An exclamation to be used by one realizing how much there is to be enjoyed, regretted, seen, amazed at, embarrassed about, pondered over, loved, misunderstood, wondered at, missed, tasted, understood, or heard.
Bird realizes how amazing the universe is and exclaims, "Life!"
Dude realizes that the human race is sometimes such an embarrassment and exclaims, "Life!"
Bird realizes the oneness of everything, finally understanding the Tao Te Ching, and exclaims, "Life!"
Dude sees a bunch of hot bikini-clad birds walk by -- rejoicing in their beauty yet feeling frustrated because he wants to nail every one -- and exclaims, "Life!"