Def 1: The abbreviation of "That's Awesome"

Def 2: Being incredibly awesome and the best.

(In reference of A-1 Steak Sauce, A-1 being the best)
Ex 1:

Guy 1: Did you hear Netflix is going to be free?!

Guy 2: Saucesome!

Ex 2:

Girl: I just landed that double back flip off the lifeguard stand!

Guy: Saucesome!
by Saucesome June 24, 2011
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