We've looked at this sort of thing many times before, so if you've got five minutes and you want to have a go at coming up with your own spoof neologisms I'd love to see them. Post them as a comment below (together with your analysis of the word formation process) and I might even find it in my heart to give a prize for the best one (and the most accurate analysis). Here's my effort:chudge (chudj) n. An underqualified judge on an underwhelming TV talent contest.
craptitude test (krap-ti-chewed tessed) n. A televised talent contest with a panel of chudges (qv).
zerotoleriddance (zero-toller-riddantz) n. The moment the public mood finally and irrevocably turns against a hitherto-just-about-tolerable minor celebrity; eg, "We put Danielle Lloyd on the cover and sales nosedived; looks like she's hit zerotoleriddance."
bincentive (bin-sent-iv) n. A motivational 'prize' offered by one such as an English Language teacher, which, while purporting to be of high value (e.g. a Mars Bar, a Cafe Nero voucher) is, in fact, worth nothing (e.g. said teacher's 'applause' and 'respect'). Blend of 'bin' and 'incentive'.
Your turn...