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An acronym meaning: We cant be friends anymore.
Meant in a joking way, when a good friend says something offencively funny.
Person 1: "Get that nigga-faggot outa here!" (Obviously joking, not homophobic/racist)

Person 2: "WCBFAM!"
by OhYeahSyndicateIsABoss! October 18, 2011
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