It's simply another term for saying, 'Fuck it.' It is a French phrase that means 'for glory.' It can be used to peer pressure someone into chugging a beer, punching someone, talking to a girl, or virtually anything. Who doesn't want to do something 'for glory'? The best way to use it is to yell it before you do what you were pressured into. Example: (right before the beer chug) "POUR LA GLOOOOOIRE!!"
(driving)
Dude I: Dude, we scored some killer dope.
Dude II: Yeah, man... this shit is dank-a-licious.
Dude I: Shit! We're getting pulled over. Hurry up, and eat the bud, man!! Pour la gloire.
Dude II: POUR LA GLOOOOOOIRE!! (chokes, dies)
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