just another saying of pwned, but putting the dizzle in there for added effect. see pwned
spawned from the korean SAT 2 vocab pah han des so meaning laughing out loud. sounded like pwndizzle to me.
WOW you just got PWNDIZZLED.
*girl runs into a door*
guy: can we get a pwndizzle?!
everyone else: PWNDIZZLED!