an interjection commonly used when a situation or state-of-mind is enjoyable or spectacular; a unique greeting designed to be stated simultaneously between two parties
One day Lee approaches Trevor, "Hello sir, I have here a gift for you. Enjoy this brand new Protest the Hero compact disk."
Trevor proclaims with excitement, "FRAYST!!!!"
Lee and Trevor met at the local cantina. Once in close proximity of one another, they exclaimed together in a crescendo, "FffffffffrrrrrrraaaAAAYYYYSSSTTT!!!!"