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2.
1.) A fail of such magnitude that it requires the ending "tastic"
2.) A fail that is larger than a Titanic Fail, but not quite a Catastrophic Fail
3.) A giant ass fail
4.) A fail so awesome, its almost a win.
Guy 1: Dude, did you see him slip on the skateboard and punch the kid in the throat?
Guy 2: Yeah man, that was so failtastic!
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Bro 1: Dude, did you see him get punched in the nuts by that girl?
Bro 2: Yeah! That was so failtastic I almost laughed!
by Kuh-Dawg January 05, 2010
 
1.
A fail so epic, it's almost a win.
Person 1: I got my penis stuck in the gutter.
Person 2: What the... How?
Person 1: I fell down. While I was biking. With no clothes on.
Person 2: What the f*ck... wowwwww... how failtastic.
by Peter Buckett November 08, 2009
 
3.
Some one or something that has failed beyond reason and comprehension, so much so that the only way to describe the failure dealt would have to include the word fail and imply total and utter success at failing. Failing of this nature is like getting the gold medal of the fail olympics.
Person 1 - "Man I totally bombed my SAT's. I got a 0 for christs sake!"
Person 2 - "You got a 0 on your SAT's? HOW?"
Person 1 - "I dunno...."
Person 2 - "Dude, you get points just for signing your name? Even if you got EVERY answer wrong you'd still have points just for signing your damn name!"
Person 1 - "...."
Person 3 - "Did you sign the name part?!"
Person 1 - "Yeah... but I might have put the wrong name... It doesn't matter anyways cause I got every question wrong."
Person 2 - "Dude that's the most pathetic thing I've ever heard"
Person 3 - "You fail at life." *points at Person 1* "FAIL!"
Person 2 - "Yep, you're officially failtastic bro."
by waywardspooky November 08, 2007
 
4.
a fail so epic it is actually more impressive than completing the task correctly
Andrea: I tried to fit an enormous squirt of whipped cream in my mouth.
Katie: Did you?
Andrea: No, it fell onto someone else's pants.
Katie: FAIL. no wait FAILTASTIC
by smydfailure April 09, 2009
 
5.
When Something Something Is Spectacularly Failing
Guy 1: Hey I Just Got A Xbox 360
Guy 2: Cool! Lets Go Play It!
Guy 1: We Cant Its Got The Red Ring Of Death
Guy 2: Failtastic -_-
by Th3b3st October 14, 2009
 
6.
opposite of fantastic: majorly failing
Alex fell down the stairs and i think that was failtastic.
by Gary213 June 01, 2009