Adding a high-class or 'bling' element to something that is naturally low-class (or vice versa). Derived by combining ghetto and fabulous. Is usually used in a sarcastic manner, although can simultaneously connote a small amount of respect.
"Check out that beat-up '88 Honda Civic with neon running lights and rotating hub caps. That's ghettabulous."

"I can't wait to get a ambient light plasma screen TV and crystal chandelier to add to my trailer home. It'll be ghettabulous."

"Does this Gucci purse match my tooth cap?" "Absolutely, you look ghettabulous."
by harpdaddio November 15, 2005
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a baby mama ho whos shit is all hanging out of her shit and shit.Also often described ad "Big Booty Bitches"
That mothafucka ghettabulous ho woulda fucked anything with two feet and a heartbeat
by andrew trueman November 12, 2007
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A word that shows that something is really ghetto.
Dude, that phone is ghettabulous. It breaks like every three months..
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