Circle Jerk: (Noun) Group masturbation, usually males, sitting or standing in a circle jerking themselves or each other off.

O' happy day! What a wonderful, glorious day it is, everyone -- for Katie Holmes has gotten her hair cut! Now we can all have a huge, celebratory Katie Holmes' fabulous new hairstyle circle jerk and go on and on about how chic and cutting edge and awesome she is.

Or, you know, we could also ponder whether or not Suri has been sacrificed to Xenu since she hasn't been seen in like, months now. Totally your call.