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1) Crazy; insane; similar to wack.
2) An expression that highlights the irony of an event.
Excuse me sir, but that's straight up wackala!

We might go wackala this weekend if it doesn't stop raining.

John: "I ordered a pepperoni pizza but they sent one with anchovies. I'm allergic to them."
Laura: "Wackala!"

by L. Mason & J. Clark July 06, 2006
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