drunk, intoxicated, etc. (from "foam", the bubbly substance on the surface of beer when poured in a glass, which is the most potent part of the drink).
"All of us got majorly foamed at Ulrich's stag party, which happened to fall on a thirsty Thursday!"
The act of defeating another player in a computer game.
When you own someone while playing Unreal Tournament or Quake (the only manly first person shooters), they become foamed.
Foamed is interchangable with the word owned, but if used instead, it automaticly makes you 10 times cooler- or more.
*l33tKiLLA was foamed by Vanilla's shock rifle*
Vanilla: foamed bitch.
l33tKiLLA: wow, you're 10 times cooler than that guy who just owned me. Or more.