Translation:He has red hair, but is the leprechaun rich?
After struggling with my own variation of the same question for months every time I run into a sentence about sports, odd eating habits or other tangents I've come to realize that the strange sentences actually are a mnemonic device to help learn sentence structure and the sound of the language.
Plus it keys you in on how to not sound like a rube. Imagine the embarrassment if you didn't know one of these words and had to ask a local what it means. It would be like asking what is "Stone Mountain" when you visit Atlanta or what is "The Arch" when you're driving through Missouri. They are otherwise useless words for local tourist traps that mean something to somebody.