A day of death (either your own or somebody else's, metaphorically or literally). It can be said as part of
trash talk or more fittingly as a war cry or victory cry.
The phrase is usually said without pronoun and is followed by a
maniacal (although not
hysterical) laugh. It is a reference to a non-intentionally hilarious scene in the shitty 1987 film 'Silent Night, Deadly Night II.'