Used as an insult that will highly offend the individual that it is told to. It's meaning pertains to many things, such as either someone who has made a very stupid mistake, or someone who is just very stupid or insulting to be around. Can often be used as a joke around friends that wont be taken to literally due to the fact of it being used very little.
Can be shortened to just diver if necessary.
Get out of here you scooba diver, you're so stupid.
No man, i wont be seen with a diver like that.