When you are making meme's online, and they're hilarious or perfect for your current situation or can be used in a twitter war or Facebook fight. Generally, being meme sauced results in blowing up your Facebook friends' news feeds with an abundance of memes (which they enjoy, thoroughly).
"I was so bored in art history class that i made memes about how lame the renaissance was, and posted them on my friends Facebook, she was sitting right next to me, didn't even realize, i was totally meme sauced."
combination of faggot and homosexual.
George Bush is fagmosexual