I've always wondered this... what does "L'Eggo my Eggo!" mean?

"Let go of my Eggo."

It was the slogan that went along with the Eggo marketing campaign. The premise is that Eggo waffles are so good, everyone's going to want yours.

the actual phrase is an old ad campaign for eggo frozen waffles. "l'eggo" was their cute way of incorportating their name into "let go" of my "eggo." it served as a memorable and cute phrase and was trying to get viewers to think that eggos were so good people would want to take them and not let go.

It's saying "Let Go Of My Eggo" Really fast (So it rhymes.)

It obviously refers to Eggo waffles.

let go of my eggo

means let loose my eggo waffle before i smack the piss out of you