I learnt this during a course I took on George Bernard Shaw as "ghoti - fish" had at one time been attributed to him. He had some pretty wicked ideas about reforming the english language.....it's really unfortunate at least some of them were adopted.
lol, I first heard that one from a turkish immigrant. He was laughing at how illogical the English language is. I often end up trying to explain to immigrants why my first name is spelt with a "ph" instead of a "v". I once had someone tell me that my name is spelt wrong. I gave up explaining it to him and just let him be.