It's an acronym for Down For Whatever. Applies to a myriad of situations, but is extensively used by a crew in Massachusetts to describe a woman who is basically down for doing anything, including unusual or what some would deem to be "risque" sex acts. It also has non-sexual uses, which can be seen below, indicating a lack of preference.
Yo, that chick in Amsterdam was crazy B! She was absolutely DFW.
Dude, I'm cool with that Steak & Cheese sub, in fact, I'm DFW today.
Ever heard that song "DFW"?
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