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."
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).