It's an alternative to "pwned" or "f***ed".
Basically it's an anagram of "F***ED". Since it's in past tense (the way it is used most often)it comes in very handy in conversations.
It can be pronounced as "FUDD-DECK"
1.
Noob: Every time I play this game I get my ass fudeck by the AI!
H4X0R: NOOB!
2.
Man: AHHH! I got so much work to do!
Morgan Freeman: You're fudeck!
3.
Cartman: Kyle stop humping my cat! Get off Mr.Kitty you dirty jew!!!
Stan: This is pretty fudeck right here.
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A word made up by a dydoo, which means absolutely nothing but sounds really funny.
Pronounciations: FUDDECKKK!!
Entertainer: I need a funny word from the audience.
Dydoo's friend: Cmon dydoo...!
Dydoo: (yells out) FUDECK!!!
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