adj. a term which can have many interpretations but its most likely outcome is it being an situation or plan that is quite good, ergo it can be used in substitute of the word awesome or brilliant to greater effect to the reader or listener.
There are many other variations of defenitions.
I am unsure of the words origins but it is braught to fame by the movie Mallrats; after a most excellent plan by Jay. Hence, Snoogens.
"Okay Lunchbox, let's try this again. We tie you to the roof and you jump off and sail like a Spitfire passing right over the arch nemesis La Fours. You then swing up to the stage and knock out the pin. And when that's gone the stage is trashed and we go smoke a bowl. You got it? Now get your fat ass up there. And dude, don't forget your helmet. Snoogens." - Mallrats 1995.