Person 2 - "I dunno..."
Person 1 - "That's beyond ridiculous. You've failed on an epic scale bro"
Person 3 - "You slammed a car halfway through your roof man?! That's friggin failtacular!"
A: A single, godly fail, though the more common term for this is a more severe "Epic Fail".
B: A string of consecutive Failures, normally to the amusement of onlookers.
"Fail, Double Fail, Multifail, Failing Spree, Failtacular."
Me: It's "No One Like You."
Tyler: No it's not.
Me: Yeah it is.
Tyler: You know what? I'll ask my mom. Mom, Is it "Somebody Like You" or "No One Like You."
Mom: "No One Like You."
Tyler: Oh you're right it's "Nobody Like You."
Me: Actually it's "No One Like You."
Tyler: No you're wrong!!!! Let me ask my mom again. MOM?!
Mom: Yeah it's "No One Like You."
Tyler: WHAT THE @#^$!
Me: Wow Tyler, Failtacular.