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1.
Used to express interrogation, surprise, contempt, or indifference. SYNONYMS: what the hell, right..., huh
Man not having any clue whats going on: kwat?
by yosef December 06, 2003
 
2.
It is an interchangeable word. You can use it however you want, in whatever context you feel like.
"What the hell is going on?" = "kwat?"

"This top is so kwat! I love it!"

"I'm feeling like kwat right now" = " I feel like shit right now"

"Just kwat away man" = "Just get the hell outta here"

"I don't give a shit" = "kwat."
by mummena May 13, 2009