A ghetto-dialect mispronunciation of the English term "wretched".

It's a fucking socket wrench.
The correct way to use the word "ratchet" would be, "Wow, this ratchet is so useful."

: n. type of socket wrench

: adj. a horrific mispronunciation of "wretched"

This mispronunciation has taken on the meaning of severely ghetto and stupid, esp. when used on a girl/woman

One of the most epic Transformers, he is yellow-ish and pretty much the brains of Optimus Prime's group.

A ghetto girl who is loud and obnoxious and constantly causing drama and usually trashy.

1) A ratchet is a mechanical device that allows continuous linear or rotary motion in only one direction while preventing motion in the opposite direction. Though something of a misnomer, "ratchet" is also often used to refer to ratcheting socket wrenches, a common tool with a ratcheting handle.

2) A character in the Transformers franchise. (Seriously?)

a galactic space lombax that has saved over 50 galaxies along with a robot named Clank.