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1.
Awesome and bum (The English definition; abbreviation of buttox) combined, though contrasting as 'bum' would normally imply negatitivty, e.g bummer, and awesome being that of positivity. Because of this conflict in definition, is sometimes used sarcastically. A catchy oxymoron that's funner to say that awesome.
Sarcasm.
"My cat died last night."
"Awesbum."

Civility.
"Want to grab a drink?"
"Sure"
"Awesbum."
by caz~nya March 24, 2007