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1.
1. A portmanteau of improbable and impossible.

2. When something is so improbable that it might as well be impossible.
Person 1: I could jump across that river.

Person 2: No you couldn't. You would fall in and drown.

Person 1: Nah, I could make it.

Person 2: There is like a .00000001% chance that you could make that jump. That's pretty freakin' impobable dude.

Person 1: But not impossible *tries to jump across river, but promptly falls in*
by brainytheinsaney May 17, 2011