This is something that people say when they discover that someone has insulted them when they were not present. This is usually said prior to the insulted instructing the offending party to "keep my name outta your mouth!"
Sammy: "Hey! Did you hear what Paulie said about you last weekend at the Grind?"
Kelly: "What? Who named me? Paulie? He's gonna regret open separating his smile!"
Sammy: "He's a trick. No one believes him anyway. Now let's go get our library cards."