Often used when the word ridiculous is just not enough to describe the current object of your attention. But, combined with the term "RAWR" it makes the words use more for an endearing sense.
So basically it is something absurd that you also love or appreciate.
But not used in a negative way. Think positive. RAWR!
Correct usage: That girls boobs are Rawrdiculous
or
You are being Rawrdiculous right now.
Incorrect usage: The 91x Morning show is Rawrdiculous
or
Healthcare reform is Rawrdiculous
(These are incorrect as the usage is more demeaning and mocking the subject)
Questionable usage: Sarah Palin is Rawrdiculous (this would be correct if you are making a cougar reference, incorrect if it is a political reference)
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).
Precedes or follows either a gratuitously disrespectful or honest remark, originated in New York City. Used in similar fashion to "no offense" or "to be honest," interchangeably.
Ya mans is wild buns, respectfully. Respectfully he's washed.
After school, The Modells on Jamaica Ave was active. Respectfully.