Usually used in a sarcastic manner.
This is a variation of "TYSVM", similar to the way "LMAO" spawned its own variant by adding an expletive to become "LMFAO"
Used only in instant messaging & online chat.
Person #1: *sends URL link to an image*
Person #2: *clicks link and views image - which turns out to be something horrible and disgusting*
Person #2: "TYSVFM"