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Abbreviation of abbreviation of "What are you doing?" The next level of abbreviation is "Phwayadoin'?", and after that comes "Phwa'?"
Somebody has just said something stupid, provoking you to look at them strangely uterring the word "phwa'?"
phwa' by Mike February 6, 2007
Related Words
An exclamation of amazement, or of an impressed nature.
Phwar! That is a realy good idea.
phwar by Dudewithdacamera February 14, 2005

phwallet 

A portmanteau of phone and wallet. A term for when you use your smartphone as your wallet with a mobile payments app like Square or Google Wallet.
Dang, I left my phwallet at Starbucks when I paid for my soy latté with my Square app.
phwallet by smartphonelady September 11, 2012
The worst curse word ever. Can be used in place of any curse word.
Johnny, how dare you use phwaq in public, there are children in the area!
Just Phwar...
Phwar by bog-axiom July 23, 2011
n. A serious condition known to cause the loss of one testicle. Also related to thwap. If left untreated, the phwat will take over, leaving nothing but thwap in it's path
Oh no! Britewire has come down with phwat.

"Everytime I look into it, the term thwap comes up."
"Phwat?"
phwat by Robert From Ottawa November 27, 2004