It's a work in progress, but here ya go:

Arse: (are-ssss) n. Your butt. (not exactly original to our family)
Bo: (bow) pn. Chloe... "The Bo", "Miss Bo", "Bo-bah-lo". (credit: Amanda and Phil)
Boob: (b-oooooo-buh) v. The act of nursing your child. To boob. I boob, you boob, she (no, no he) boobs, etc etc. (credit: Amanda and BA)
Butcept: (buht-sept) preposition "The kids all went to school, butcept I stayed home 'cause I was sick" (credit: Piper)
Fark: (fah-rrrr-k) interjection A curse word you can say around the kids. I can't bring myself to do the Battlestar Galactica "Frack". I've been saying "fark" for years before I heard that one. (credit: Amanda)
Fridgerating: (fridge -er-ray-ting) v. the act of feeling cold, but not quite to "freezing". (credit: Chloe)

This WILL be continued... brain is frying.

I have to say, in my mind, Tina Fey has it...