WAP is an acronym for the phrase Wet Ass Pussy Wet: you know what wet means if not, you are too innocent for the internet Ass: your bum
Pussy: female body part also known as a vagina
Most commonly associated with: 69 meme, Twitch chat, and rarely porn
A WAP means "wet ass pussy" but the term has now developed and is now targeting a larger group of genders. That's why the WAP now also means "wet ass penis" and it is used when a male has some juice ass genitals.