A word used by American youth during the 1950's. Now the word is mainly used humorously to mock the purported wholesomeness of American culture. It mocks the nonexistent "values" that Americans and Christians claim to posses in abundance. The word when used to mock these traditions is very Nietzschean and little angsty emo kids all over the word rejoice in using it as they wait for the same fate to befall them as their parents (they grow up and conform to the same idiotic practices as their parents).
"Ward, I think you were a little hard on the beaver."
"Golly, gee whiz Mr Cleaver, why did you fuck Beaver in the ass so hard?"
"All of you shut up, I am on of TV land's greatest dads."
As a form of mockery:
"Golly, I guess I'll go eat some apple pie, toss the old baseball around then root for the hometeam! We're playing Springfield High! Nah, I think I'd rather get drunk and fuck my girlfriend."