A word used when something is great and awesome and you are hinting that you would like a drink of some sort. It can also replace swear words. It can be used in many moments, once you and the word are acquainted you'll love it!
Jill: We r having twins!
Steve:Holy freakaccino that AMAZING!
Bob: can u come over?
Joe: no the freakiccino moms being a bitch