Slang vernacular for "how's it going" or "what's up". Common responses being "Crispy" (good), "Soggy" (not great, sad in mood, etc), and "Burnt" (angry in mood, agitated, etc). Best used if you haven't seen the person in at least a day, because if you've seen them today, you pretty much know how their waffle is cooked.
"Hey man, how's the waffle cooked?"
by G T Ripper November 13, 2008