What is a running rabbit?
Background
The Sequenced Flashing Lights are part of some approach lighting systems and are a row of strobe lights that flash in sequence to direct the pilots eyes to the runway.  They are useful in conditions of bad weather, as they quickly catch the eye and help the pilot locate the runway threshold which might otherwise be hidden; however, during normal operations they can actually be distracting.  These lights appear to run towards the runway and are often called chasers, the rabbit, or the running rabbit.
Kill the Wabbit
Because these lights are very bright, and often distracting during normal operations in clear weather, it is not uncommon to hear pilots ask the controllers to kill the w/rabbit on their approach.  I personally find them overkill, and have heard many other pilots asked them to be turned off as well.

Photo credit ATG Airports