Pronounced "well - e": An adjective or noun which is derived from the word "Welfare" used to describe the shitty condition of: clothing, personal possessions, etc. It was first used in Ontario, Canada (near the dirty 'shwa). Whether you say it as a joke or out of sheer honesty to put down your friends or strangers, it can tie into your regular douchebag vocabulary.
As an adjective: "Those are the most Wellee pants I've ever seen"
As Noun: "That girl is a Wellee"