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1.
A situation where one or more individuals choose to take a relatively benign event and turn it into a huge drama.
The result when certain individuals put effort into taking a minor happening and presenting it as though it were a big deal.
This often involves a lot of high pitched screams or expressions of outrage, the narrowing of eyes, forced tears, threats of various kinds, phone calls, email, blogging, etc..
It is not uncommon for a dramarama to become known to a vast amount of people within a very short time.
"Jan turns most events in her life into a dramarama."

"Oh gee, look at the dramarama going on in the corner!"

"Don't drag me into your current dramarama missy!"
by Eden1 June 25, 2006
 
2.
Invented by Maritza, contrary to popular believe aka. mikey. Pretty much a better word than drama.
Maritza: my friend was having boy dramarama
Mikey: dramarama?
Maritza: psh, youve never heard dramarama
Maritza: it sounds so much better than drama
Mikey: haha
Mikey i've heard it! it's not like you made that phrase up.
by Maritzaaaaa January 03, 2008