An adjective or exclamation. Derived from the words crap and wonderful, and means essentially the same thing as crap, but usually only in a sarcastic way.
A combination of great and wonderful. When a situation is so great that great or wonderful can't describe it. Saying "this is fucking great" wouldn't cover it either.
O my God, i haven't eaten all day, this quadruple cheeseburger with fries is gronderful.