Oh, My God, yes.

An exclamatory confirmation of a positive situation (or negative and/or humorous, depending on the one using the phrase ) at a given time. These situations include a pronouced purchase of a CD, DVD, Game, etc, or a life event.

This is mostly used in internet chat rooms either to reduce typing time or to make a mockery of AOL Speak. Any of which is up to the one using the phrase.
Example 1: Hey, I just got this new Queens of The Stone Age CD

Used; omg yus

Unused; That's fantastic, great purchase.

Example 2: Hey guys, my girlfriend broke up with me for some other guy.

Used; omg yus

Unused; Haha, and that would be me, loser.
by LaserMan July 30, 2005
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