This is an equally self-depricating, equally egotistical term to describe living a crazy life filled with ups, downs and events that you can only describe as having "ruled at life"
Remember when you did Hungry Like the Wolf for karaoke and the host gave you free shots of Jager during the song? That ruled at life!
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A towel used to collect swass (ass sweat that accumulates in the ass crack and seeps out uncomfortably on a hot, humid day). Also, a loathable person.
That guy is such a swass towel