1. Used when one cannot seem to find the words they are looking for.
2. Used when another human being says something that causes others to feel uncomfortable and therefore become tongue-tied because hey do not know what to say.
3. Used just whenever the hell you want to
Stefanie: Shove some bananas down your pants!
Michelle: WHAT?!
Jennifer and Amie: Tongue-Tied Tarantula!
(Definition compliments of www.urbandictionary.com)
(Picture found here)