Turning onto our street for the first time when coming back from Italy: "Our room!". He had forgotten the word "home" but he knew where we were!
First manly sentence (while grocery shopping): "All done. Shopping. Back home!"
For awhile he would come to us with a banana or orange and say "Zip, zip!". I was almost sad when he learned the word "peel", because "zip" was so cute!
Me: "What does mommy have in her tummy?". Tobias: "Cereal." Well, the answer we were going for was "baby" but I guess cereal was also correct. On another occasion he answered "airplane" (which is not correct at all, for the record).