Tye Dillinger was a guy who kinda hung around in FCW/NXT for a long while. He's not young, and even debuted in WWE all the way back in the ECW days, didn't do crap, got released, re-signed, etc. After his team with Jason Jordan went nowhere leading to Jordan forming the Gable team. As a means of kinda turning Dillinger into a "Jobber to the Stars" they gave him the "Perfect 10" gimmick, which has blown up much more then anyone could have expected, partly because of the chants, and partly because people knew Dillinger wasn't planned to go anywhere and they wanted to give him his due. The chants have kinda taken a life of their own, but they are based off Dillinger.
I feel like the chants are annoying but fair play to the guy for getting over and having a shot that he probably never thought he would.