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A waba-g is a person that can be lame at times or can be out of control. It can also be a positive thing if someone does something good or accomplished something or it can be a greeting at times.
Bad: Dude stop acting like a waba-g.

That thing you just did made you look like a waba-g
Good: Yo whats up you waba-g.

Since you got an A on your test you are a waba-g for now on.
Waba-g by RLgriff May 2, 2010
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Word Used By My Chemical Romance's Bassist,Mikey Way durring an interview.
*Interviewer*- Mikey, How do you feel right now?
*Mikey*- Wabagoo!
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