Huffah is a word used in times of excitement, happy, or other well-related times of emotion.
It was started by a small group of friends who don't really have lives, and needed a new word because they got tired of words like, "dope", "happy", "etc." and etc.
Friend 1: Oh my gosh, I just found $100!
Friend 2: HUFFAH!
Friend 1: HUFFAH!
Friend 1 + 2: HUFFAH!!!
Friend 3: Shut up.