A joking way to refer to the film the Wizard of Oz, or a way to describe strange or extraordinary circumstances, especially those with parallels to the film. May also refer to a wholesome, happy movie or an old-timey one.
"What is this, Wizard of Ooze?"
"Wizard of Ooze is my favorite movie dawg"
"You guys need to stop acting like Wizard of Ooze rejects"
"You skate park rejects ain't even seen Wizard of Ooze"