The line comes from Kermit's Swamp Years, the Muppet film that follows a young Kermit before he leaves the swamp for Hollywood, with Croaker as one of the older frogs around him. The phrase itself is a playful, old-fashioned insult, which is why it translates so well out of context as a soundboard reaction. Shared widely as a short downloadable clip, it is now used most often in memes and edits where someone needs a clean, quotable way to call out nonsense without swearing.