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1.
This is another way to say the acronym WTF - whatef.
Guy: Hey look a goatse!
You: Gross, man...
Guy: *FAP FAP FAP*
You: whatef!
by April 14, 2009
 
2.
What you say when your girl friend thinks shes rite but you know shes wrong so you be nice an say whatefs
Marissa:Babe the niners are gonna go to the super bowl.
Me:Whatefs baby.
by r1995 January 17, 2014