The term Cakeandeatit originally came from the expression popular among idiots in the latter part of the twentieth century (Earth); "you can't have your cake and eat it".
The stupidity of this phrase begs a couple of obvious questions;
- what would be the point in having a cake you can't eat?
- how can you eat a cake you didn't have in the first place?
- why can't you have your cake and eat it?
Usually shortened to just Cake or sometimes embellished to Fruit-cake which is then shortened to Fruit - all with roughly the same meaning.