What's the deal with this "M'kay" shit?

In IRL I’ve only seen it used in online SDMB discussions. I’ve never encountered it elsewhere.

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That’s how I always assumed it was spelled.

And the parody on South Park is that certain people tend to say it after nearly every sentence. It’s an odd bugger, in that it is said like a question, similar to the Canadian “Eh?” but is actually a declarative statement saying “That’s how it is.”

It can be used as a sarcastic OK. “Stop tryign to fix the toilet!” “M’kay, so when it explodes tomorrow, I’ll be back.”

Actually, it predates Lumbergh, although it’s still from Mike Judge.

Actually actually, the Lumbergh character predates Beavis and Butthead. He first appeared in the series of shorts Judge did for Saturday Night Live in 1991. The first Beavis and Butthead short was produced in '92.