What is shiggity shiggity shwaa?

To be cool or to call someone or something cool.
Agreeing with someone's statement that you think is cool.
Also related to the word shibby.

Dude this movie was so awesome it's shiggity shiggity shwaa!
Hey man I bought a new video game and it is cool! Shiggity shiggity shwaa!

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shiggity shiggity shwaa - video