LORELAI: Huh. You know what I just realized? Oy is the funniest word in the entire world … I mean, think about it. You never hear the word oy and not smile. Impossible. Funny, funny word.
Oy, a Yiddish interjection expressing surprise and dismay. Often combined with vey, an interjection expressing distress or grief, to make oy vey (“oh no, woe is me”, more or less).
With the, a characteristic in Ashkenazi Jewish mode of speech in the US, meaning “in regard to, about, in the manner of”, generally in a disapproving tone to suggest that it’s too much or too often eg “You’re always with the jokes”, “Enough with the new house talk”.
Poodle, a curly-coated game dog which probably originated in Germany, first bred to retrieve wildfowl from water after hunting. It’s German name Pudel means “splash”, and it’s related to the English word puddle.
Already, a characteristic in Ashkenazi Jewish mode of speech in the US. At the end of a sentence, it expresses a frustrated impatience with a situation which should have been dealt with long ago eg “Will you two stop fighting and get a divorce already?”.
So Lorelai’s catchphrase means (roughly translated), “Oh no, there is a surfeit of poodles – this situation needs to be dealt with immediately, as it should have been rectified a long time ago!”.
Fans are divided as to whether Lorelai’s off-the-cuff catchphrase is actually funny. It’s certainly very Jewish.