The meme runs on the Khajiit's speech quirk of referring to themselves in the third person or by their race name, paired with the merchant caravan pitch players hear on a loop in Skyrim1. Common formats include image macros of Khajiit NPC screenshots captioned with the line, real cats posed like traveling merchants with the same caption, and shitpost forum threads where the entire post is a Khajiit quote2. A related variant, 'Khajiit stole nothing,' plays on the in-game racial stereotype that other Elder Scrolls races hold against them, and it turns up tens of thousands of Google results on its own3.

The typical format is to quote the merchant pitch verbatim, either over a screenshot of a Khajiit NPC or a real cat photo staged with 'wares.' A common convention is to write the caption in third person, referring to yourself as 'this one' or 'Khajiit,' and to offer or refuse something based on whether the other party 'has coin.' The 'Khajiit stole nothing' variant often includes the speaker denying an obvious theft.