When I went to high school, we had pep rallys and such, but we didn’t ooze with school spirit like some others. I now enjoy my occasional visits to the local high schools, where, to be supportive, the kids decorate each other’s lockers before big games and tournaments. However, it does concern me that the posters often contain misspelllings such as the one showcased today. Luckily, the Wolves will probably get away unscathed.
I don't think the wolves will go for that.
Beyond the Edit Mark 
Could it be a portmanteau word? “Slaughter them by slathering them with [sweat, blood, whatever]?”
I picture you with a playful smirk as you clicked “Send”.
Harumph!
Actually, about two hours after I posted I realized it would be much better to treat it as a portmanteau of slaughter and lather. . .oh, well. Post in haste, repent at leisure.
And, it’s not quite on point, but have you ever seen this site?
http://eggcorns.lascribe.net/
Oh, geez! How could I have overlooked the most obvious of all (is this what the smirk is about?):
Will they die laughing?
Well, no, but I admit, that was great!
What I was thinking, but didn’t want to articulate, was that if the kids couldn’t spell slaughter, how the heck could we expect them to do something as advanced as creating a portmanteau?
Good point. Thing is–I adore word play, and I’m not very good at it, so on the rare occasion when I see a play on words I get a bit tipsy with it. . .
And, after all–there is such a thing as divine inspiration.