The word is
cereal. And it's a take on an old commercial for Honeycombs.
But let's turn the word over to our resident Amyholic:
Originally posted by Kryten in a 2 year old thread:
See, there were these kids in a treehouse, and apparently, they were part of a club dedicated to eating Honeycombs... anyway, some character, say, a pirate, would invade the clubhouse, and he'd say, "I'm a BIIIIIG pirate and I need a BIIIIIG cereal!" And the kids would offer him Honeycombs, which is big (yeah yeah yeah)and not small (no no no), and all would be well...