Term derived from slang. Normally used in England. I mean you'd sound like a bit of a nob if you used this in America or something.
Anyway, basically it translates to "What's up? You're extremely attractive" It is now mostly used by teenagers who are wannabe gangsters (like I stated earlier) or a group of guys saying it as a joke.
Wagwaan is the Jamaican way of saying “hello” or “what’s going on.” It is NOT the roadman or British way of saying ‘hello.’ This word originated from Jamaica!
Guy 1: “Yo wagwaan yuh gud?”
Guy 2: “Yeh manmi nah seh to much wha yuh de pan?”