Season 8 · Episode 11
The Simpsons
Marge's new pretzel franchise is failing until Homer strikes a deal with Fat Tony, Springfield's local mobster.

Literally 'water-party'. Used across Latin America to describe someone who dampens enthusiasm or ruins fun. Said with mild irritation or teasing.
Augmentative-pejorative of 'rico'. Implies not just wealth but arrogance or privilege. The plural 'ricachones' is common. Used with a dismissive or envious tone.
Fixed idiom. 'Varas' are old units of measurement. The image is of putting on a shirt far too large for you. Used to warn someone they are getting into a complicated situation unnecessarily.
On paper this looks compositional, but in spoken Latin American Spanish it functions as a set positive reaction, often stronger than the literal meaning. Said with genuine approval, not faint praise.
Reflexive fixed phrase. Suggests surrendering to an impulse, mood, or crowd. Can be positive (enjoy the moment) or negative (lose judgment).