I Stole The PUG!!
There are several threads posted here with people discussing this scene, saying how funny it is but they think he's saying; "I stole the pie or I stole the pot."
He's actually chanting "I stole the PUG", while banging pans, I believe his pants were down too.
It's a scene happening in the background when Carl Brashear arrives at the base.
I don't know if he was the actual guy that took the dog but he's taking the punishment for the guys stealing the CO's dog, a PUG.
This was a typical punishment for that type of thing (military pranks) it wasn't sanctioned by the Navy but it had a dual purpose; #1. It was embarrassing and #2. It was usually done early in the morning, waking everyone up so the guys buddies would all be ticked at him too.
Anyway- He's chanting "I stole the PUG."
People in life that are the happiest don't have the most, they make the most of what they have...