Puprentice

Meaning: A newbie apprentice.
Pronunciation: Rhymes with apprentice.
Usage: If you're a female puprentice, the whole office will be thirsting to meet you. If you're a male puprentice, no has time for you.
Root: Pup + Apprentice.

Flamebassy

Meaning : a burning embassy
Usage : Several Danish flamebassys opened up in the muslim world over the past few days
Pronunciation : flame + bass + ee
Root : flame + embassy

Moneypal

Meaning: a filthy-rich friend, who can be duped into buying anything.
Pronunciation: mani-pal
Usage: I have my moneypal buy books I can't afford.
Root: money + pal

Flait

Meaning: an ungainly gait.
Pronunciation: flayt (rhymes with gait)
Usage: Her flait is a turn-off.
Root: flail + gait

Gharithmetic

Meaning: The fine art of balancing home needs with a limited income.
Pronunciation: Ghur-ryth-matic.
Usage: The Indian housewife's gharithmetic can offer you more insights than a Harvard case study.
Root: Ghar (Hindi word for home) + Arithmetic.

Talksickology

Meaning: Study of obnoxious phrases and words.
Pronunciation: Homonym of toxicology.
Usage: As a linguist, I often wonder why no one offers a PhD in talksickology.
Root: Study of sick sounding talk.

Squashiorkor

Meaning: The weak state of the body after a game of squash.
Pronunciation: Obvious.
Usage: If you're athletic you feel charged after a game of squash. If you're like me, you'll end up with squashiorkor.
Root: Squash + Kwashiorkor (weakness due to malnutrition).

Chickstermination

Meaning: Mass killing of chicken resorted to on the onset of bird flu.
Pronunciation: Chix-termy-nation.
Usage: We condemn Hitler's genocide. But don't mind staying silent on the issue of chickstrmination.
Root: Chicken + Extermination.

Classanova

Meaning: The biggest flirt on campus.
Pronunciation: Rhymes with casanova.
Usage: I met our classanova, the other day. He's now a pale shadow of his former self.
Root: Obvious.

Chennaive

Meaning: Chennaiites with old Madras qualities.
Pronunciation: Chen-nai-eve.
Usage: If you ask me, I'd rather be with the Chennaive than hang out with the Madracease.
Root: Chennai + naive.

Madracease

Meaning: Aggressive, ambitious, crafty, fun loving, outgoing, cosmopolitan Chennaiites.
Pronunciation: Homonym of Madrasis.
Usage: The BPO revolution has spawned a new breed of Madracease who are very Mumbai in their outlook.
Root: Madrasis are often associated with traits like conservative, no-nonsense, simple, guileless, trustworthy etc. Madracease are people who have stopping being so.

Potshala

Meaning: A hideout for smoking pot.
Pronunciation: Pot-sha-la
Usage: If Rajesh is not at office or home, he must be in the nearest potshala.
Root: Pot + shala (hindi word for place). Word derived from paatshala.

Plucquisition

Meaning: A ballsy but hostile acquistion.
Pronunciation: Pluck-kwi-zeeshan.
Usage: It is to be seen if Lakshmi Mittal manages the plucquisition of Arcelor.
Root: Pluck + Acquisition.

Thought Soccer

Meaning: Bouncing ideas off.
Pronunciation: Thot-socker.
Usage: I get my kicks playing thought soccer with minds I respect.
Root: In soccer the ball gets dribbled, kicked and sometimes people use their head. Replace the ball with a thought, it seems to make a nice metaphor.

Phonevita

Meaning: Pep talk over phone.
Pronunciation: Obvious.
Usage: I was really down and out. My dad's phonevita got me back on track.
Root: Obvious.

Hunchayat

Meaning: A jury that goes by gut feel.
Pronunciation: Rhymes with Panchayat.
Usage: Creative initiatives need to be judged by hunchayats.
Root: Hunch + Panchayat (an informal village jury in India)

Funderestimate

Meaning: Underestimating the humour quotient.
Pronunciation: Rhymes with underestimate.
Usage: Bollywood gags invariably fall flat because they funderestimate the audience.
Root: Obvious.

Starverchi

Meaning: One who cooks only when there's no other option.
Usage: When it rained poonais and naais in Chennai, I had to play starverchi.
Pronunciation: Sta-var-chi.
Root: Starver + Bawarchi (the hindi word for a cook).

Baternity

Meaning: An excruciatingly long innings.
Pronunciation: Batter-nity.
Usage: Geoff Boycott's baternity at Leeds, took 10 hours. He managed to pile up 246 runs. For this effort, he was dropped in the next test match.
Root: Bat + eternity.

Spendearment

Meaning: Buying love by splurging on gifts.
Pronunciation: Spend-dear-ment.
Usage: A lady will say 'I do' depending on the terms of spendearment.
Root: Spend + Endearment.

IRN

Meaning: An NRI who's returned to India.
Pronunciation: Eye-aar-ren.
Usage: India's prosperity will be steered by millions of enlightened IRNs.
Root: IRN is NRI headed backwards. Also IRN means India Returned NRI.

Surmouse

Meaning: A not-so-wild guess.
Pronunciation: Sir-mouse
Usage: The statement 'Ganguly will never be in the one day team' is a surmouse. While 'Ganguly will never be in the Indian team' is a surmise.
Root: Surmouse is the singular of surmice (phonetically surmise). So it will always be a smaller, milder guess.

Pegnant

Meaning: Having a bloated beer belly.
Pronunciation: Peg-nunt.
Usage: I need to do some exercise to shed my pegnant look.
Root: Peg + pregnant.

Hefemeral

Meaning: 10 seconds of international fame attained by stripping for the playboy magazine.
Pronunciation: Rhymes with ephemeral.
Usage: Playboy bunnies are hefemeral celebrities.
Root: Derived from Hugh Hefner, the founder of Playboy magazine. Hefner was often referred to as Hef.

Recartography

Meaning: The technique of altering geographical borders by redrawing maps.
Pronunciation: Re-carto-grafy.
Usage: Recartography will be in vogue in a decade or two.
Root: Re (again) + cartography (science of map making).