Something that is said or done by a white person that is attempting to be black (a whigger) that is so outrageous and retarded that it becomes awesome or fantastic.
Related concept:
"awesomely bad."
Person 1: "Ted was on The White RapperShow ™ on VH1"
Person 2: "Whiggtastic! What do you want to bet that he never gets laid EVER AGAIN?!"