"Wibawastic" first
originated in Spain when a drunk American
foreign exchange student tried describing a fun pre-gaming party. The student was trying to say the
pregame party was wonderful, ballin', and and fantastic all at one time.
The produced sound turned into "Wibawastic" a combination of all three thus making the before mentioned party even more awesome.
"Wibawastic" does not need the contextual usage of referring to just a party.....it can be anything and is commonly used in the greater part of the province of Castilla y Leon in Spain today.