Popular slang for That Was Awkward. Pronounced in one syllable (as opposed to saying each letter--it's just twa). To be used during or after an awkward occasion. Originated in Lexington, KY. Soon to be a website like FML and MLIA and already a popular facebook group.
Today, I saw a friend I hadn't seen in awhile. I went in for the pound, he went in for the hug. TWA.
Today, my parents got home from the Bahamas and brought earrings back for my little sister. They were huge silver balls and upon seeing them I said, "WOAH, those balls are huge." My father then replied, "That's what she said." TWA.