Usually means awesome, fabulous, wonderful...stuff to that effect. It has a German origin. Can be used sarcastically.
Example #1
Dude 1- "Wonderbar. I just finished my term-paper!"

Example #2
Dude 1- "I broke your table last night after we got drunk."
(Akward pause)
Dude1- "Well...I'll see ya." (runs off)
Dude 2- "Wonderbar"
by Lolli9192 October 14, 2009
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