I'm thinking we can blame swimming coach and cultural icon, Laurie Lawrence for that dreadful catch cry. I first remembered hearing it after the Mean Machine (Mens 4x100 Freestyle Relay... they all shaved their heads for the final if you recall...) beat the odds-on, all-star Americans at the 1984 (?) Olympics.
Those of lesser intelligence (known locally as Bogans [pronounced Boh-gans... and I think that came from Melbourne]) took to the simplistic nature of it all. And they could spell it correctly when painting grafitti on railway cars, walls, garage doors, school books etc...
I cringe every time I hear it, and wish to all the gods that aren't crazy that something... anything Dame Edna said would have been used instead!