1) Basically wtf. This deviation is derived from ye olde englishe version of fuck (fook) and also has indian roots in the vav (ask chuck norris jr.) This phrase is suitable for any and all wtf-worthy situations.
2) A person so unutterably wtf-able that he must not be named... except by this name
Greg: "I'm gonna go take a shyett."
Vav T. Fook: "Vav T. Fook!! You took a shyett foive minutes ago, that's not noiice!"