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Que Chévere 

An ironic phrase meaning the equivalent to "Cool Story, Bro." Usually done with an exaggerated smile and a thumbs up.
That story was so compelling you simply must tell it again, Que Chévere
Que Chévere by Batdad Merla February 19, 2013
This word has the generic connotation of "good/cool" and can be used in almost any context that those two words can be used. It can be used less emphatically as a passing comment such as "Terminaste tu tarea? Chevere." (You finished your work? Good." Or it can be said more emphatically to have the connotation of "great/awesome" such as "Ganaste el juego? Chevere!" (You won the game? Great!). It is also very common to use the very emphatic phrase "Que chevere!" to mean "how great!" or "how awesome!".

In terms of its origins, it derives from the African which means that with all due respect to the Venezuelans and Puerto Ricans that have already posted (I am Puerto Rican), the word was almost certainly popularized first in CUBA where Afro-Caribbean culture was strongest. For example, the word was already being used in very early rumba/mambo songs (e.g. Guaguanco Callejero) for as long as we have had recorded evidence. Cuba was the first major exporter of Afro-Caribbean culture to the Spanish-speaking world (and indeed to the entire world), so it was from Mambo songs played on the radio that the word probably disseminated into the popular culture.

The reason why the word may be associated with Puerto Rico more now is that since the 60's - after Cuba was cut off from the world - Puerto Rico became the main proponent of Afro-Caribbean culture (and has itself been surpassed in the last decade or two by the Dominican Republic). Sorry Venezuelans, but to my knowledge Venezuela has never been a major exporter of Afro-Caribbean culture to the rest of the world.
Ganaste el juego? Chevere!
chevere by lmalave April 9, 2008

The Cheerie 

Truly a unique creature. Commonly found near a PC or Nintendo switch. Their diet consists of chicken nuggies and poutine. For a creature that claims to be funny, humanity has never witnessed a joke. The Cheerie and the Cheerie theory has been increasingly studied since the renaissance.
The Cheerie said "oh my godddd Carlooooo"

Cheerie Theory 

The theory that members of the Cheerie clan hatch from eggs rather than parturition. While some members embrace this theory while some do not. People who oppose the Cheerie theory are called Cheerie theory deniers (CTD).
Oh really man? You heard of the Cheerie theory? I am a full supporter of the Cheerie theory. Cheerie theory deniers am I right?
A popular expression in use by Cubans, Puerto Ricans, Venezuelans and other Latinos as an affirmative, acclamation
of approval.
When listening to music, checking out the opposite sex or delighting in some pleasurable experience, one may make reference to said experience with, "chevere"!

Cuando bailando con Maria, Carlos dice, bamboleate guapa, mientras pensando, chevere!
chevere by Dr. Figueroa November 6, 2006
its slang for 'cool' in spanish.
Toda Mi Gente Estan En El Party
Por Detras Guayando Las Shortys
Smoking Weed, Drinkin Hipnotic
Latinos, Mi Estilo, And Everything Is Chevere
chevere by s3xy latina November 10, 2008