Considered informal and often used in casual conversations among friends, rather than in formal settings. At the family dinner, Aunt May said I was off my rocker for wanting to dye my hair green.
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Hyperbole
It's an exaggeration used for effect, not to be taken literally as accusing someone of actual insanity. When Joe bought another vintage car, his wife exclaimed, 'You're off your rocker!'
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Humorous Tone
Often used jokingly among friends to tease or mock someone's unusual idea or behavior in a light-hearted way. He's off his rocker, wearing shorts in the snow, but he loves it!