Interesting... as to why kids' oral culture survives? A couple of half-baked theories:
1) Kids have a longer potential lifespan than adults, therefore words that they invent or use commonly are likely to be used longer, even if the natural meaning of the word gets subverted or lost. ( I did tell you 'half-baked' !)
2) Kids tend to naturally network amongst their peers much easier than adults - and games, and hence the terminology involved spreads quicker.
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