White Anglo-Saxon Protestant
Descendants of colonial-era immigrants from the British Isles--especially England, but also from
Wales and Scotland (irrespective of the fact that Scots and
Welsh people are predominantly descended from Celts, not descendants of Angles and Saxons)--who belonged to the Presbyterian, Congregationalist, and Episcopalian (Anglican) denominations of Protestantism.
The term is redundant because all Anglo-Saxons are white.
To this
day in America, the W.A.S.P.s are the
one group about which--in a politically correct atmosphere--
jokes can be made with impunity.