Funny, when I interviewed Jim Klobuchar, former columnist for the (Minneapolis) Star Tribune, I asked him about it.
Update: I can't find the link, as it's probably way back in the archives, as that was during the fall of 2005 when I wrote the story.
pig latin - Definition from the Merriam-Webster Online Dictionary Main Entry: pig latin
Function: noun
Usage: often capitalized L
Date: 1938
: a jargon that is made by systematic alteration of English (as ipskay the ointjay for skip the joint)