When conveying an emotion, timing is of the uttermost importance. The expression ¡tómala papá! will set you on a par with home-grown Chilangos. Tómala papá literally means "take it, dad." It is used to express astonishment when someone takes a hit, whether actually or figuratively. It could be in sports (a big tackle), in a fight (a big punch), in a politician's career (an exposé of extramarital affairs), in finance (when a stock plummets) or in a car accident, among many other situations. The expression should be uttered with force and without pause, as a single word. With gals you must not say ¡tómala mamá! Stick to papá. It's just an expression. Trying to adjust it would be as inappropriate as saying "daughter of a bitch."
Perfect example: Wikileaks. ¡Tómala papá!