Having an unusually large, yet attractive behind that has acquired some very appealing looks over the course of ones life, making it seem as if it were bodacious.
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.