I decided to copy this out of the comment since it wasn't formatted very nicely there. It's a play on words. It basically means "When people eat these hot dogs they are going to be really popular." In this case, the "like" is being used as a "stammer" or "filler" word that is frequently used by surfers (notice the pattern here? Dude is another word use by surfers). Think of it like "ummmmmm". We can , like, go to the, like, store, and, like, buy some food. It's a bad habit that annoys many native speakers. The next key thing to understand it is that "dog" is a slang term that is used to refer to a friend. It's used much like "man". For example, "Hey dog, what's up?" == "Hey man, what's up?". Finally, "hot" can be used as slang when something is really popular For example, "Energy drinks are really hot right now" == "Energy drinks are really popular right now". So, putting it all together, it says "When people eat this, they're (the hot dogs) going to be like (==ummmm) hot (==really popular) dog (==friend).

It means people in this case. Dude is often used to refer specifically to males, but it can also encompass all genders as it does here. It functions nearly identically as "guys" except it is usually only used be surfers, skaters, and stoners (people that do drugs).