Word used to describe somebody who is cooler than cool. An original ganster.
Look at that dwagster riding on dubs.
The vehicle Elmer Fudd uses to race Buggs Bunny at Long Beach.
Elmer: Hewwo. I'm wacing wabbits at Wong Beach.
Bugs: See ya in St. Louis, screwy!
Elmer: Qwick! get my dwagster fueled!