When you mishear something hilariously wrong because you couldn't really hear the speaker.
Named for a hilarious fail from The Pun Guys doing the Whisper Challenge, where one person wears "loud-ass headphones" and has to figure out the nonsensical sentence that is being said to them.
The opposite of this is "The Thin Rhino" (Also from The Pun Guys)
Dan: Camels eat sexy paper clips.
John: ...Apples have epilepsy!
*Dan dies laughing*
(Opposite version)
John: The thin rhino ate the possessed i-pod.
*Later*
John: The thin rhino...
Dan: The thin rhino?
John: YES!
Dan: What? Wow!!