This is a fairly common phrase which you may have heard in movies or on television. This phrase is used, quite often, when someone is about to get punched in the face (or suffer some sort of “negative” situation.) The other person (who might not really WANT to punch the first guy – but who has a sinking feeling that it is to happen anyway) might say…
…Or maybe this person actually DID punch the other one – and then, looking down on the fallen victim, might say…
Basically, it is a way of saying to the other person (before-hand)…
This phrase, when used before-hand, is essentially a warning to the other person to STOP whatever it is that he or she is doing, or that he or she may suffer the consequences of his or her actions.
. If used after-the-fact, it serves as a way for the person who served the punishment to relinquish any responsibility or guilt for the situation (whether true or not) as the person Asking For It provoked the situation, and may not have deserved a warning (like in the image above.)
You may also find this phrase in American TV commercials. In these cases, it is usually meant in a good way. For example if a company has a product that they discontinue, and then the customers literally ask for it, or if the company comes up with a NEW product based on customers needs, then the phrase could be used in the commercials like:
(In this case, the meaning can actually be literal or at least only partially Idiomatic)
Have An Excellent Day!