I am sitting at my computer reading the Daily Candy Lexicon while eating banana bread that I actually made from scratch (shocking to anyone who knows me). This book is hilarious so I couldn't resist posting some of the Words That Don't Exist but Should.
Crappuccino: A poorly made coffee beverage that cost upwards of $4.
Cereal Monogamy: A slavish devotion to one particular breakfast cereal.
Fruct Up: Containing large amounts of high-fructose corn syrup. (Ex. Sure, it's fat-free but it's frucked up.)