A term used to define someone or something as exceedingly fabulous. It can be used to agree with something or used as an expression of one's emotions. It can also be shortened to accommodate post/character limits.
"YAAAAAASSSSS! GAGA YAAAAAASSSSS! YOU LOOK aBEAUTIFUL! YAAAAAASSSSS! OH MY GOD! YOU LOOK SO GOOD! YAAAAAASSSSS!
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.