1. A combination of the words "fuck" and "awful", used to add emphasis to something that really, truly, sucks. A shorter form of saying "fucking awful". Basically the Antonym of Fuckawesome.
2. Unbelievably bad; bad beyond the realms of human understanding.
Ruler of Lake Titicaca. Rumored to have a bunghole that gets very angry if it does not receive toilet paper. Cornholio the Great is often seen walking around with his shirt over his head and his hands in the air, chanting songs about his power, and his bunghole.
"I am Cornholio! You do not want to face the wrath of my bunghole, for I need TP!"
Butthead: Shut up, Beavis! (uh huh huh huh)
Beavis: Um, okay. (heh heh heh heh).