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An event that is better than the others occurring at the same time. If something is THE knob it is the ultimate event, unable to be matched by any event at any time.
Joe’s party is going to be a knob! Everyone will be there! It won’t be as good as Emily’s party though. That party was the knob.
When someone is a conplete noob at life, in a really cute/badass way. A knob is not necessarily a bad thing to be called. In fact, people are often very fond of knobs.
Dude 1: Haha, my cousin slipped on a banana peel. I didn't even know that was possible
Dude 2: What a knob!
Plug-ugly geezer who is also being a total git
What an Airy-Fairy Knob that Prat Joey is...