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1.
The term is used to describe a person who is both Mexican and Black. Basically just a combination of Wetback and Black
Alicia isn't really black, and not really mexican, that chick is a wetblack
by Boomin850 July 17, 2006
 
2.
A person of mixed racial heritage, a mix of African-American and Hispanic.
"Hey, have you seen Tyrone and Lupita's kid? That's one fine lookin' wetblack."
by JoshuaH20 January 30, 2008
 
3.
The blacks of New Orleans from the aftermath of Hurricane Katrina who looted non-essential items. ie. TVs, stereos, etc.
Look at that wet black on TV. stealing all that bling bling.
by Almighty_AL October 25, 2005