An overused phrase intended to add a level of sarcastic
suspense to a ― usually pointless ― event. Usually repeated at least twice in addition to dragging the words; especially "it" (waaiitt for itttt.... waaiitt for itttt....).
It used to be
somewhat funny the first or second time you heard it. But anymore, there seems to be an abundance of people going out of there way to try to fit it in to their conversation, even when it doesn't fit. All of a sudden someone in the conversation will start saying, "wait for it... wait for it...," and you know it didn't belong in the conversation; they just wanted to use the phrase.
If you are going to use this phrase ― along with wearing a
trucker hat and
Heelies ― AT LEAST wait for a time in the conversation when it actually applies and is appropriate.