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1.
what are you wearing
hornydude69: wayw?
IMslut: nuthin but my thong wayw
hornydude69: nuthin but my hand

useful for those who type with one hand
by Bob McGraw January 13, 2007
 
2.
Commonly refers to What are you wearing? It is often used as a means of getting into ones head furtherly into ones pants. Often unsuccessful, but still funny as shit.
Guy 1: "Dude, WAYW?"
Guy 2: "Zebra thong with pink stripes man!"
Guy 1: "High Five!"
Guy 2: "Lets make out."
by GotWOOD September 13, 2010