An event during which many new commercials are played. These commercials often try to be humorous but fail. The most successful Super Bowl advertisement was Apple Computer's 1984 ad, which introduced the Macintosh and portrayed IBM as Big Brother (if only they had known more about Microsoft...). Today these commercials usually cost about $2 million a pop.

Oh yeah, apparently there's some kind of game involved too. Don't know what that's all about.