The line comes from Wayne's World, created by Mike Myers and first seen as a Saturday Night Live sketch before becoming the hit 1992 comedy film starring Myers as Wayne Campbell alongside Dana Carvey as Garth Algar. In the film the friends host a basement cable show and use the chant as their joyful signature sign-off for good times. The phrase stuck because it is short, easy to quote and instantly tied to that duo's friendship. It later spread through movie quotes, soundboards and short-form video, where creators still use it to signal a celebration is starting.