Meaning:
"蜜汁" literally means "honey," and "尴尬" means "awkward, embarassing." First used by Chinese netizens at bilibili.com, a popular bullet screen video site, "蜜汁" is in fact the homophone of another word "迷之," which means "mysterious, unspeakable." Therefore, this term simply means "somehow awkward." An Internet catch phrase nowadays, netizens also say "蜜汁感动" (somehow moved) and "蜜汁脸红" (unexpectedly flushed).
Example
A: 昨天遇见女同学和一个头发花白的男子一起走在路上，我上去打招呼说“爷爷好”，结果人家是她爸爸。
Zuótiān yùjiàn nǚ tóngxué hé yīgè tóufà huābái de nánzǐ yīqǐ zǒu zài lù shàng, wǒ shàngqù dǎzhāohū shuō "yéyé hǎo", jiéguǒ rénjiā shì tā bàbà。
I ran into a girl classmate yesterday walking with a man whose hair has turned gray. Then I walked up and said hello to them, calling him "grandpa." It turned out he's her dad.
B: 那可真是蜜汁尴尬。
Nà kě zhēn shì mìzhī gàngā。
That's really kind of embarassing.
(First editor: Debra Li)