An incredibly racist term for white people, on par with the n word. This became a racist term both because of the long dark history that comes with the word most often associated with white people, as well as the need of an offensive term for white people more offensive than cracker and honkie.
White guy #1: Sup my bigot!
White guy #2: Nothin, bigot, whattup witchu?
White guy #3: Yo, what up bigots!
Black guy #1: Whatchu bigots up to?
White guy #1: Woah man, take it easy, that's our word.
White guy #3: Yeah man, that ain't cool, that word's got a dark history
White guy #2: You should be ashamed. I am deeply offended.
Black guy #1: Whatever honkies.
White guy #2: Much better.