The 'Bilbo after all why not' meme comes from a memorable scene in the iconic film adaptation of J.R.R. Tolkien's 'The Lord of the Rings.' The character Bilbo Baggins, portrayed by Ian Holm, is often depicted in a contemplative moment where he debates whether to indulge in the temptation of the One Ring. This moment, captured in two panels, showcases Bilbo's inner conflict, transitioning from calm consideration to a mischievous smirk as he reaches for the ring. This scene has been widely adopted into meme culture as it humorously captures the universal human experience of rationalizing dubious decisions.