That says "Oy Vey! Oy Gvalt! Vos far a chorbn".
It is a few years since I did my study on Yiddish so there may be a couple of minor errors in the below, but I think it's ok as a general thing.
Yiddish is derived from Middle High German, so there are a number of differences between it and modern standard German; in addition to this the loshn-koydesh element (the Hebrew/Aramaic loans) are in the Ashkenazi readings, so there are various differences in that from Hebrew, either ancient or reconstructed (which often used the Sephardic readings as a pronunciation guide if I recall correctly, I may be wrong). As an example, modern Hebrew "shalom" vs. Ashkenazic "sholem" (although the loshn-koydesh words would be rendered using the traditional Hebrew spellings the majority of the time, whereas Loez, Germanic and Slavic words would be spelt out phonetically).
Yiddish also uses a few digraphs for diphthongs. Double yod = "ey", Double yod with patah = "ay", Vav-yod = "oy". In addition to this there is double vav, for "v". Yod is used for both and [y], while Vav is used for both and [w]. These are always semi-vowels word-initially; words commencing in or will begin with a silent א (e.g. איך "ikh" vs. ייִד "***"). Aleph has four functions;
1) as stated there, to differentiate word-initial yod or vav
2) as אַ with patah, to signify [a]
3) as אָ with qamats, to signify [o]
4) in loshn-koydesh words as required
Where double-vav or double-yod are not intended as part of their digraphs for ey and v, hiriq is used beneath the second to show that it is not meant to be read together with the first (like in '***' above - without the hiriq, it would be read 'eyd').
Edit: bizarrely, "Yiddish" is not censored, but the word for "Jew" in Yiddish is censored. Presumably because of some very derogatory uses of it, but here I am actually using it in its proper sense, i.e. in Yiddish...
Does that mean we are able to say ****stan now?
Edit 2: no... still can't say that. Strange that the word filter can edit out Y I D when used in isolation but doesn't edit the same letter combination in non-offensive situations (such as Yiddish, as in the language), and yet cannot tell that when the letters P A K I appear together in the name of the country -S T A N, no offensive connotations exist!