To me, it sounds like a smash-up of "that's a fine kettle of fish" (difficult situation), "over a barrel" (no options) and "in a pickle" (in a bit of trouble).
I'm with this!
Not a mash-up of expressions but of words: This is what my DH does all the time, but the funniest one (to me) that sticks in my mind was when years ago, yet another politician was on TV with rationalizations and justifications for adultery and I remember DH saying, "Oh I'm so sick of that guy's fil-lanigans!"
Me: ? ?, then "fil-lanigans...philanderer + shenanigans?"
DH: "Wait...that's not a word?"
Bagman has a co-worker who does this all the time. I keep telling him he should start a Twitter account along the lines of "(Expletive) My Dad Says": "(Expletive) Jason Says."
My favorite is "He's living high on the horse."
You just gave me a "House" flashback. His therapist has told him to try to make connections with people, and his response is to BS them. He approaches a strange woman at a party and says, "I'm a philanderer."
House: "That doesn't mean I give a lot of money to charity ..."
Woman: "I know what it means."