Here's the original PUMPED UP KICKS:
( NOTE: check the round orange basketball like PUMP logo on the 'tongue' of the sneaker. As you squeeze it the sneaker fills out with air and feels more comfortable )
*The original Reebok Pump was released in 1989, as a basketball high-top shoe. The shoe was quite expensive compared to other retail athletic shoes at the time, often costing as much as 150% more than the next most expensive athletic shoe on the market. It became something of a status symbol on urban basketball courts and eventually in suburban high schools.
Source: Wikipedia
Nowadays the cost is still too much and most people don't wear it anymore so when you hear PUMPED UP KICKS people refer to expensive sneakers in general.