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2.
adj. simultaneously awful and awesome.

Generally used to describe something that is good and/or funny but also bad at the same time.
1. "James was showing off his dunking ability so Ron pushed him."

"Man, that's awfsome!"

2. "Natalie didn't do well on the quiz because I didn't tell her about it."

"Awfsome!"

3. "These greasy chilly cheese fries are awfsome."
by Meekaiel May 25, 2006
 
1.
Something that's quite awful at the same time as being awesome.
"Ringo, may I be the first to say that the wolf you airbrushed on your car is awfsome."
by Pistol Pete Maravich February 13, 2009
 
3.
A phenomenon where something is so awful that it actually manages to cross over into being awesome!
The song "Friday" by Rebecca Black is so horrifically awful that now it is actually awesome. That song is awfsome!
by Leecy Lynn March 25, 2011