How common it is to emphasize a sentence by adding periods between words?

I am thinking about this style of writing:

We. Do. Not. Negotiate!

First of all, how would you call that? I have difficulties finding references about it, even though it seems to me that this is quite a common usage.

Second, is there any reason to avoid this form of writing? Would you consider it to be bad style?

To provide context: no, I do not plan to write with this style. If had to write dialogues, I think I would be inclined to use it. I am under the impression that this a common way of writing, especially in English (I don't know why, but I associate this style with English). I am not a native speaker, though, and I wanted to know how other people feel about this.

It's not overly common (and rightly so). You are most likely to find it in A: dialogue in a book or B: the internet.

It should also be noted that this sort of emphasis is considered informal. You would not find it in any legal documents or academic publications; bold text would be used instead.

As for popular usage, it most likely stems from The Simpsons character Comic Book Guy: