1. being very lame and or having a very lame moment; when something is epically weird
2. when you dont get what you want; losing a silly war with a friend
ex 1. *missing eachothers hand during a high5* WE MISSED!! WHAT LAMESAUCE!!!
ex 2. boy "AWWEH I JUST LOST THE GAME!!!!" girl "hahah thats such lamesauce."