A meaningless acronym which most often stands for "Oh My God What The Fuck
Barbeque." It most likely originated on Something Awful (somethingawful.com). It can be interpreted simply as gibberish, or used when one wants to emphasize one's own incoherence, lack of understanding, or to mock others.
It usually has an air of
mockery, specifically with regard to teenagers who a lot of use three-letter
acronyms.