A state of excelerated fabulousness; moreso than fabulous alone. Not necessarily implying a state of poverty, however more applicable when busting out a possession of lesser quality than the standardnorm.
workin' the system, on the cheap, to your advantage. livin' the high life but without the cost.
it's hard not being ghetto cuz ghetto is cheap. also people don't expect much - like if we get caught shovelling food into tupperware in the buffet or jumping the line or freaking in a hottub, what can ya say? ghetto...shrug...and that's it.
that makes us ghetto fabulous.