It is a meme, popularized by the most viral video sharing site, YouTube.
In August 2022, Treasure Island became the subject of a popular internet meme. The meme is derived from a looped walk cycle scene in which three characters make their way across the room while Dr. Livesey exhibits a highly pronounced swagger. The meme is typically overlaid with the phonk song "Why Not" by Ghostface Playa, with the song's beat closely matching the gait of the characters. Variations of the meme often substitute the Treasure Island characters with ones from other franchises, such as Team Fortress 2 or the Kirby series.
Example:
Person 1: Woah that Dr. Livesey Walk was really swag!
Person 2: Yeah, it was.