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1.
Comes from the Gamespy Forums. Basically, just an enhanced version of awesome, meaning more awesome than awesome. Can also be changed from "chainsaw"esome, to anything ending with an "aw" sound, such as Terry Bradshawesome, but none other than chainsawesome are "official" terms.
Tom: "Hey, did you see that new movie?"

Bill: "Yeah, it was chainsawesome!"
by Wes September 08, 2004