Whether you’re just looking to pick up a few new terms or you want to scour all the jargon forwards and backwards, the gang over at SEOmoz has created a great SEO Glossary for anyone interested in all the fun terms and acronyms that are essential to today’s search marketing professionals. Most of it is serious, but there are a few funny bits like:

SMWC (Slapping Myself With Celery) indicates an extreme reaction similar to a “spit take” but more vegan-trendy. Often combined with other exclamatory acronyms. – WTF/SMWC, or perhaps ROTFL/SMWC.

While their list format is not the easiest to get through, this is the most complete list I have seen. I also recommend the SEO Dictionary for quick reference.