This phrase is casual, more suited for personal conversations than formal situations. I tried to joke during the meeting but it backfired and I had egg on my face.
Pro Tip 2/3
Not Literal
The phrase is metaphorical; it doesn't mean there's actual egg on someone's face. After tripping on stage, he was left with egg on his face.
Pro Tip 3/3
Public Mistake
Often used when a mistake or faux pas is made in a public setting, witnessed by others. He made a blunder in his speech and ended up with egg on his face.