The TimesOnline has an interesting piece about how we make up words to fill "lexical gaps," those ideas and things that we have trouble describing. Actually, I think it's an excerpt from The Stuff of Thought: Language as a Window into Human Nature by Steven Pinker.
I think these made up words are called sniglets? That's what Pinker says, and he seems like he would know. Anyhow, here's an example:
Furbling v. Having to go through a maze of ropes at an airport or bank even if you’re the only person in line.
The excerpt also talks about how annoying these made-up words really are.