A horribly incorrect way of citing a particular phrase or adding emphasis to a questionable term. Typically it preceeds the phrase and is accompanied by a stupid little fang finger gesture. If you currently use the term "quote unquote" (and especially if you do the finger thing) please stop it now. Don't feel bad. It's an understandable mistake because the idiots on Fox News say it all the time as does your boss at work, most probably. But read on...

First of all, it should be QUOTE and ENDQUOTE. These are the official names for the double apostrophe symbols (") on your keyboard.

Secondly, the proper syntax is to say QUOTE, followed by the phrase, closed by ENDQUOTE.

CORRECT USAGE (spoken):
What do you think of Bush's quote War on Terror endquote?

means:
What do you think of Bush's "War on Terror?"

INCORRECT USAGE (spoken):
What do you think of Bush's quote unquote War on Terror?

means:
What do you think of Bush's ""War on Terror?

Get it? Good. But try to avoid saying it altogether. Using the phrase "so-called" is much more acceptable. Example:
What do you think of Bush's so-called War on Terror?
> (Incorrect but common usage)
> BOSS: Ok people, let's get proactive. This is a win-win situation. So give it 110% and quote unquote kick some ass!
> EMPLOYEE: Man, you're such a putz.

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