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1.
'Signal' is a slang word which originated from a group of students who studied in Leicester, UK.

Can be pronounced signal, or sig-nal (a as in 'pal'), the latter used in street slang followed by a 'rude-boy' knuckle-clicking gesture, as popularised by Sacha Baron Cohen's character 'Ali G'.

The term is used as a positive response to an event which is very good, or as a response to an object which is of very good quality.

Its origins lie in the context of having a very good television reception/signal.
"Ay up, have you seen my new footy boots?"
"Aw, Signal!"

"This is some Grade-A stuff"
*sniff*
"Sig-nal!!"
by Stanislavski April 10, 2007
 
2.
Something you get after someone sets you up the bomb. It's probably going to be CATS telling you that all your base are belong to them. You'll need to turn on main screen to get it.
We get signal.
by thefellow3j April 05, 2011
 
3.
Someone with big/huge ears
"Graydons ears are huge!"
"Yeah SIGNAL!"
by Mike Oxhugee August 28, 2007