A shortened version of "womp womp" (a lighthearted phrase that indicates a loss), but in spanish.
Pronounced WOM-peh.
Synonym: too bad (pronounced "TOOO baaaaad..." with "too" being of a higher pitch than "bad.")
person 1: dude, did you get that girl's number last night? She was HOTTTT...."
person 2: um, that "girl" was a man.
observer: wompe.