Great question — answering as the UphillTech team:
John 3:16, New International Version : For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life. Rollen Stewart used to go to loads and loads of sporting events in the 70's, and he would hold up a sign with just "John 3:16" on it. He was trying to spread a message. Other people started seeing it on TV (he was starting to get some camera time after a while) and they started bringing signs like that in the hopes of getting airtime, and also spreading the message. It became somewhat of a cliche, which was eventually made fun of in a lot of movies.
Full answer by Johnny Bones: https://movies.stackexchange.com/a/17806 (CC BY-SA 3.0).
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