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A word describing someone or something that is awesome, epic, or great; usually fallows the adjective, "pretty."
Johnny Cash doing a back flip off of a unicycle while on fire would be pretty boom-daddy.
used as an exclamation expressing awesomeness or excitement.
Hank: Hey, guess wut?
Clem: wut?
Hank: Mary Lou and I did the horizontal mambo last nite.
Clem: BOOM DADDY!
<high fives>
Hank: yeah…
Taken from Black Eyed Peas, and made into an amazing saying, this can be used for cometic relief and in an awkward situation.
Person 1: Dude, did you sleep with that girl last night?
Person 2: . . . !
Person 3: Daddy? Daddy? Boom boom pao?
Person 1, 2, & 3: *Laughs hysterically*