Interjection (fantabulous + crap) used to express dismay (softened with a mock upbeat attitude) at a serious mess or hopeless situation.
"The power's knocked out all of our servers and we need to get them up and running again, but the last backups we have are from two weeks ago. Fancrapulous."
A person you hate intensely not because they deserve such hatred but because they serve as a focus for your general hatred. A healthy way to dispense with excess animosity.
Jake's not really that big an asshole. He just serves as my hate sink.