An event that didn't live up to it's expectations, or had little or no expectations and still dissapointed.
"Damn, that party was no where near my initial expectations.."
"Uh-huh. Total suckfest"
"You read my thoughts homey. Lets party."
Used to describe a show,movie,concert or anything else.
Go to a Fallout Boy concert and you will see what I mean