It mean everything and nothing at the same time. It a noun, verb, adjective, adverb, pronoun, and an entire sentence.
It can be used in every situation.
1. One who is insane and needs a sanitarium
2. One who loves mentally retarded people who speak of nothing but bullshit
3. A noise who can make someones day
Meaning sweet, awesome, *shibby, a word used when something has excited you in a good way. Usually used by drunk southerners, and generally white trash/hillbilly folks.