In no particular order, a short selection of words of phrases which became prominent this year and will likely become more commonly used in 2012.
underdemolished - I encountered this one several times in 2011, used in reference to the existing buildings of say, a bankrupt restaurant chain, which continue to operate despite barely covering costs - it isn't that there is an over-supply of buildings, it's just that the ones that are in use are "underdemolished". Also used to describe the glut of over-valued homes no one wants to buy.
tebowing - From the world of football, this is a verb describing the act of dropping to one knee to pray in a public event or location. (See Tim Tebow for more info.)
smartphone - I'm pretty sure I never heard this word prior to 2011. It annoys me. And I hope it soon goes the way of the "velocipede".
web curation - Instead of telling someone I write a blog or maintain a web site or write for web sites, I now can claim to be a 'web curator', which sounds mighty fancy and pays just the same as I make now.
ambush marketing - While it seems a redundant phrase, it refers to the way a company can piggy-back their logo onto events and services they do not sponsor but can simply invade. It's being rather common in describing the advertising orgy surrounding the 2012 London Olympics.
planking - Probably the most fun word of the year, the most ironic fad and something anyone can do anywhere, also known as the "lying down game". You can even mix together planking with tebowing and get this: