The line comes from SpongeBob SquarePants, the long-running Nickelodeon animated series centred on the optimistic sea sponge living in Bikini Bottom. SpongeBob's high-pitched panic has made him a staple of reaction memes, and short exclamations like this one are easy to lift from episodes and reuse out of context. On soundboards and in short-form video, the clip is shared as a shorthand for wanting to leave immediately, which keeps it relevant long after its original broadcast because awkward exits and sudden embarrassment never go out of style.