This is a Japanese slang that does not get used in everyday language but is instead (very rarely) found in manga/anime. It is a corruption of joudan ja nai yo (åè«ãããªãã) which is a colloquial term literally meaning "this is not a joke" and can be loosely interpreted as: "stop kidding around", "don't fool yourself", "stop messing around", "you got to be kidding me", "yeah, right".
A character by the name of Sakura Haruno (æ¥é ãµã¯ã©) in Naruto uses this a lot and many people attribute the usage of this term to the manga series. Since the word is corrupted (noted with personal accentuation), so has the meaning within certain contexts in Naruto, which defines or embodies an emotion or expression of an adrenaline rush or great excitement: "hell yeah" and "f~ yeah" is a common fansub translation.
It is commonly mistranslated as "what the f~" or "hell no" because the term was never used in that manner (given the context of a situation) and was never used as a pejorative (a handful of fansubs have taken this term to the extreme)
You think you can step up to me? Shannaro!
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