The purpose of this article is twofold. Analyzing sample phrases to determine which of the word-formation processes are used in the course of creating slang on social networks is the first task. The second goal, however, is to interpret the meaning of the sample expressions. Slang is becoming an increasingly popular form of communication. It is essential to understand the nature of phrases created on social media platforms. Meaning changes in these expressions are also significant. The article focuses on five word-formation processes: compounding, conversion, derivation, borrowing and backformation. The article discusses a total of six different expressions taken from websites such as Twitter.com, Facebook.com, Tumblr.com and Instagram applications. At the end of the article, the conclusions of the study are discussed.