A quap (pronounced "kwap") is a quick-ass prank. To celebrate the successful execution of a prank, it is prop usage is to exclaim "BIG QUAP".
Scenario One:
Person A: Dude, did you really just slash my tires? What the hell?!??
Person B: BIG QUAP!
Scenario Two:
Person A: Yooooo I just quapped these Doritos from the 7-11.
Person B: Dude, that's just shoplifting.
Person A: BIG QUAP!