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So you don't sound like an idiot this when everyone starts singing this and you don't know the words (myself included):

Should auld acquaintance be forgot,
And never brought to mind?
Should auld acquaintance be forgot,
And auld lang syne!

Chorus.-For auld lang syne, my dear,
For auld lang syne.
We'll take a cup o' kindness yet,
For auld lang syne.

OK, for bonus points, what does it mean?

It means: "I'm not going to pay a lot for that muffler!" "Crazy Eddie, his prices are insane." and "Knowing is half the battle!"

It's a song put together so we never forget the valuable lessons we were taught by the gods of television.

Gomer_X wrote:OK, for bonus points, what does it mean?

Old times passed. it's old scottish or gaelic I think.

It makes a bit more sense when you add in the next verse:

So here's a hand my trusty friend,
And take a hand o' mine,
We'll tak a right good willy wacht,
For auld lang's syne.

I should point out I am doing this from memory - so is probably wrong

Loosely translated, the whole thing means lets get drunk together and remember old friends for ald times sake.

It is indeed old Lowland Scots dialect - written by Robert Burns.