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1.
The meaning of whatever pops into one's head when nothing else does.
*silence*
You: So how 'bout them Lakers?

- a moment of shwepp -
by kingofshwepp June 26, 2009
 
2.
A replacement for the word "what" in a manner that is extremely obnxious and meant to interrupt someone's sentence.
I was speaking to a guy over there when a friend of mine over here came up behind me and yelled shwepps!
by Meanstatter October 04, 2006