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1.
1. Acronym for I Want One Of Those, a webshop selling "stuff you don't need... but really, really want (tm)".

2. A word taken from said webshop's name and concept. Exclaimed whenever you see something you don't need, but really, really want.
- Hey, look. A plastic hamster that can tell the time and run around on the floor in a seemingly random pattern.
- IWOOT!

Or more realistic:
- Look, they sell Playstation 3.
- IWOOT!
by ximono January 29, 2008