It means a cut/chopped off head of the penis
Douch: "Ahaa, nice hair mop-head!"
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Mop-Head:*angrily* "Yeah, GOOD ONE WAG-WAN"
by InventorOfWag-Wan January 12, 2010
a gangster street term used in the uk and alledgedly 'borrowed' from jamaca. means whats goin on or hello basically a greeting
synonym: whass gwan
wag wan yo
aiight

easy now
wag waaan

whass gwan?
not much not much
by doodeyboob May 12, 2009
wos gwan in blud?
by Anonymous September 02, 2003
Commonly used after the phrase booyakasha for emphatic and dramatic effect. Not unlike "word" or "out," "wag wan" is only slightly different in that it grants greater authority to the user.
Time for da grub. Booyakasha wag wan.

by B slice July 16, 2006
a small creature with extended ears, usually has a strong pimp game, have high pitched voices, large claws, and big furry feet
Honey, the wagwans are in our garbage again.
by Fred the Snail and Gary the Re December 12, 2008

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