To be extremely attractive, awesome, and have a huge ego. Can be used positively or negatively. Usually used when talking about one's self because of a gigantic ego. But can be used to describe someone else when other words do not suffice, or for comedic effect.
Person 1"Omg your so fucking hot"
Person 2"Liek thanks, I know am GAWGEOUS"
Person 1"Do you see that gaweous girl over there?"