For children, this is an adjective used to describe the child for making a good grade in school. On a report card, if they received an "O" for Outstanding, rather than an "A", they are described as 'owesome'.
As a more mature word, this adjective is used to describe something so awesome, it makes you want to "oh!" (orgasm).
"Wow, Johnny got an 'A' for 'awesome', and his little sister got an 'O' for.... 'owesome'."
"Oh my God, Tomas was so owesome last night..."
"Wow, look at her owesome body!"
The surname of the greatest customer name ever used in a software demo... "Bernard Owesome". The word has since come to signify anything that is an order of magnitude greater than just simply "awesome".
Can you believe how owesome this cheeseburger is?
owesome is an abbreviation of awesome.... usually used by people who have english as a second language. The term owesome was made infamous in New Zealand in the 90's by David Tua, when he appeared on Wheel of Fortune.
Quote David Tua: "Can I have an O for Owesome"
awesome with an o
(thanks to New York who thinks awesome is spelled with an o)
you are Owesome o...w...e...some