a word used to describe how awesome something is, both in a sarcastic and serious manner, depending on what the context of what your statement is.
serious version:

Ryan: Dude i just got layed!

Tim: Fanfuckingtastic bro, about time you got some ass!

Sarcastic version:

Smith: i just got your promotion Jill!

Jill: well isn't that just Fanfuckingtastic?
by Todwolf Ruziki Malachi December 21, 2012
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The most used term by Mr.Big during the 6 seasons of the best HBO series ever, Sex and the City...Second most used term by Mr.Big was "Absofuckinglutely", a personal favorite.
"You and me we're fanfuckingtastic together" (Big to Carrie)
by Jenny June 29, 2004
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