As a general rule it has to be more annoying than it is funny and a complete waste of the person's time.Extreme owning can have many different variations. For example:getting ice for the burn or a haircut because the subject has been "sideburned"
Gerald: You're an idiot.
Melvin:Oh no, what i should do is visit a local low cost airline, buy a ticket to Egypt, hire a local tour guide, search around in the Saharah desert, find some aloe vera, find out my plane has been canceled due to an airline strike, stay in a 2* hotel overnight, get the next plane the day after, arrive from the airport and buy a motar and pestle from a local cookery shop, grind up the aloe vera and add milk, then leave it to ferment for 3 days until it becomes an ointment BECAUSE I JUST GOT BURNED! Extreme owning, deal with it!