This meme is a bit bizzare. it comes from an anime/manga called (what else?) Jojo's Bizzare Adventure. The anime has a complicated plot involving vampires somehow, the full sysnopsis is available on its MAL page. the meme itself means imitating a special move called "Za Warudo" which usually involves a large color-inverting bubble, time stopping, knives being tossed at victim, as well as a steam roller being thrown on top the victim. Specifically the meme comes from the character Dio Brando, who's name is believed to have come from Marlon Brando's and Ronnie James Dio's names. The character during a fight sequence with a character named Jotaro, uses a time stoping move, exclaiming "Za Warudo!" (which is japanese for "the world"). the fight scene can be viewed below:
This move came into memedom after it was popularized by several fighting games involving Dio. The super move can be seen executed below
The meme became even more popular after several flash animation parodies were created, one of the first being this one below:
(The actual move doesn't take place until around 1:00)
The WRYYYY!!! cry that is also often associated with this meme comes from the vampires from Jojo's Bizzare Adventure as it is a noise or shriek they make frequently. During Dio's Za Warudo special attack he uses this shriek when atop the bulldozer. the shriek became popular along with the flash video that can be seen above, as people who were fammiliar with Jojo's Bizzare Adventure enjoyed it. Mudah (japanese for useless) is another term that has been popularized by this meme, and is a battlecry of Dio's when he executes a barrage of punches (screaming mudah mudah mudah repetatively). An example of the WRYYYY!!!/mudah aspects can be seen in the image below:
Upon further research, I've discovered that there is a club soley devoted to this meme, right here at MAL: