In conversation it is an expression which follows a particularly good but lighthearted insult in order to emphasize the caliber of the remark. It is similar to the way that a person would use the word [burn]. Though the phrase itself was first made popular by the Mazda auto commercials, this particular usage was popularized in the popular television show "Scrubs", where it is often accompanied by a short "Zoom, Zoom, Zoom" dance.
Guy 1:Dude, you're pathetic because you've never really satisfied a woman! Guy 2: Oh really? Well, you might want to check that with YOUR MOM! Ohhhh! Zoom Zoom Zoom !
