Misspelt version of boobs. It was used first in a 4chan thread when an anonymous 4channer replied to a thread with "booba" and an image of tuxedo pepe with its eyes stretched out.
Literally the plural for more then one boob but derpy.
Usually used In a context of some real big honkers but can also be used casually with some average sized badonkers. It should also be yelled and never said without the derp