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An exclamation of satisfaction with one's self for having caught something just dropped. Though ninjas obviously never drop anything, this is how they would drop things (and what they would proclaim) if they were capable of doing so. The feelings of alertness and dexterity associated with the drop/catch action preceding the "Ninja Drop!" stand in stark contrast to the inattention and clumsiness that led to the exclamation in the first place.
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