This is, perhaps, my favorite phrase of all time. It's a good all-purpose kind of thing, sort of like a Leatherman. For example: say you just found out you failed a test:

you: "Yeah, I failed that math midterm."

friend: "Bummer."

you: "yeah, I guess they can just dip me in honey and throw me to the lesbians."

Or say you just saw something shocking:

friend: "Holy shit! Did you see that?"

you: "Well, dip me in honey and throw me to the lesbians! I didn't know cows could spontaneously combust!"

Disclaimer: I am not actually a sexist pig. I just like to say "dip me in honey and throw me to the lesbians."