waf means 'We Are Failures' famously used in Dog Is Dead's single Glockenspiel Song. Dog Is Dead fans are called waf's. A waf is a huge Dog Is Dead fan and they love each and every band member of the band.
1. We Are Friends 2. A self-describing term used to identify a group of people who consider themselves to be friends; only applicable if people are friends outside of social networking sites
3. Most frequently used in chants to illustrate level of friendship and comraderie in moments of inebriated bonding.
Abbreviation for "What a fag" You might say WAF around friends, but mainly used to post in an away message, or to instant message someone with, or write down to leave for an individual.