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fail boat 

A term you use when someone fails or does something wrong, implying in a joking way that it was really bad or that it went wrong because they were stupid.

It is in reference to "fail boat" pictures on the internet (google image search it) which ususally depict a boat that is sinking or capsized with the words fail boat underneath.

If this were to be put on a scale of failure then it would be just below the term "epic fail".
If someone or something has failed or is on its way to failure then you would say:

"All aboard the Fail Boat!"

or

"Your shipment of Fail has come in!"

If your on instant messanging or emailing then you would usually attach a picture too because the joke is rooted in the pictures and is funnier if you use a different one each time.
fail boat by Richybuoy April 6, 2009
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Fail Boat 

Someone who constantly fails at something, and generally Life in its self. Can be told to the person as a pay out.
Excuse me, sir can i plz ride take a ride on your fail boat.

Hey lets all jump on to this noobs fail boat and take a ride down Fail Lake.
Fail Boat by World Owner January 14, 2009

Fail Boat 

A common reference to the boat "The Titanic."
basically, the word means any floating object that was clearly poorly designed, causing it to fail.
Example:
"Here is your fail shipment: One Fail Boat."
"Oh, you mean the one made out of lead?"
"Yep."
Fail Boat by Mr Awesomesauce March 10, 2010

failboat 

A failed orginization or group of idiots. Doomed to failure and full of ineptitude, they still contiune to sail away on the sea of stupidity.
In extreme circumstances, one man can be catergorized as a failboat in and of his/her self.
Pictures of capsized or rolled boats usually shown as an example of what happens when the crew does something.
Hi! Im Al Gore and I invented the internet. Today I will be your captain of the SS Failboat.
failboat by BUBBA ROFLcopter JR August 19, 2007

Failboater 

An expression often used in gaming cliques describing someone who consistently performs poorly OR does not always come through

Derived from Failboat, failboater is a word describing someone who is often on a boat of fail
"Ricky hasnt got a kill in over two whole games what a failboater"

"Sherry didnt come over last night, she never seems to have time for me anymore what a failboater"
Failboater by Shimmytomyleft November 24, 2009

Failboat 

A growing Youtuber who is hilarious and is just a nice guy in general. He along with GGab, Fyrus, and Jaymoji make up the Failing Four.
Man 1: Hey, did you see the new Failboat video.
Man 2: No, What happened?
Man 1: He played Minecraft with the Failing Four
Failboat by Duckdud November 17, 2020

Failboat 

Also known as a Daniel and a Failboot, Failboat is a way of turning simple things into comedy. Failboat is another way of being a weirdos uncle.
My brother could end up being a failboat if we don't educate you.
Failboat by Chompo7 May 15, 2018