This is a tongue twister - also a drinking game (probably a lame one, since my mom taught it to me twelve years ago). Person A starts with the first item, saying it aloud. Person B (or Person A if he has no friends) follows with the first item, concatenating the second item. Person C (or Person A if you only have one friend) follows with the first two items, adding the third, and so on.

Disclaimer: I learned this aurally, so it might not be dead accurate with the way you know it. Wait, my mom's a one in their right mind would know this.