The line comes from NBA Jam XXX, a crude parody take on the NBA Jam basketball games famous for over the top arcade commentary. That exaggerated announcer style made short shouted phrases easy to rip, repost and reuse as standalone reactions on soundboards and in edits. Online, the clip spread less as a sports reference and more as a universal rejection sound, applied to anything the creator wants instantly dismissed. Its brevity, volume and profanity keep it popular for punchline edits where a polite no would feel too weak.