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A good thing. Something that is fun, exciting or generally good. Commonly paraphrased with "Bonus" - "Bonus Karibo". It can also be used as a greeting between friends to signify a joyous day.
That is Bonus Karibo!

Wow, she's hot. BONUSSSSS KARRIBO!

BOOONUSSS KARRIBOOO.. how are you mate?
by Chef the Cat September 01, 2010