And in most cases, a physical "hoorah" is coupled with the phrase, which looks something like clapping your hands together then holding them at roughly shoulder's width (palms facing out) and making some sort of funny face. This can be even more so extenuated if one hand is simultaneously holding a lighter.
"OHHHHhhhhHHHhhhHHH SHIT! HE CRASHED IT!"
"You guys, we just got pulled over but the cop let us off with a warning, and I'm high as FUCK!"
"WE CRASHED IT!"