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An all-purpose, informal, cutesy interjection with a contextual meaning ranging anywhere from surprise, to delight, to dismissiveness, to irritation, to sadness, to confusion. As it's a "cute" word, it's rarely used to express serious sentiment or anger. It can also be used as a noun, again to express the same range of sentiments as above. (Tonal intonation is key.)
"I got a raise! Pwah!"

"I'm feeling all pwah today."

"Would you please stop text messaging while you're driving? Pwah!"

"Where do you want to go for dinner? Cuz I'm really hungry."

"Are you free tomorrow?"
"Um, pwah?"
by S. S. March 09, 2008
The standard abbreviation for Penis-Whack (also known as masturbation). This can be used once or repeatedly, usually while imitating the motion.

Also can be slang for good or awesome things that occur.
An 89 on my final?! Pwah!
by Pwahseph September 21, 2010
A better more sensible word for Muah.
"I love you babygirl...PWAH"
by pogypotts March 20, 2008
An interjection used to express derision or scorn, in a scoffing manner.
"I am waaaay cooler than you are!"
"Pwah! You wish! Pwahpwahpwahpwahpwah!
by s. m. p. August 15, 2003