Slang: A filler-word for awkward silences or prolonged pauses in conversation.
Best used when really high, and you or your friend have ran out of things to say (the result of being incredibly baked)
When used properly, the word may cause uncontrollable laughter, or strange looks.
Cassie: *cough* *Stares into space*
Samie: Vagamana!
Cassie: Vagamana?
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.