W00t

The term "w00t" (pronounced, and sometimes spelled, "woot"; IPA pronunciation: ) is a slang interjection used to express happiness or excitement, most often expressed via the Internet. The expression has been used in Usenet posts ^*, multiplayer computer games (especially first-person shooters), the IRC and SILC chat protocols, instant messages, weblogs, and web forums, and even spoken aloud. It is considered as leet speak (l337).

As a vocal expression, perhaps a portmanteau of "woo" and "hoot".
As a type of onomatopeia, reflecting the rising sound of a siren or klaxon.
From MUD video games, meaning "wow, loot!", "woohoo, loot", or "wonderful loot" Also, this wonderful word can be spelled: wewt, which makes you seem more leet, see below
Acronym for "Win Over Other Team", or in the original Quake servers as "We Owned the Other Team" or "We own other teams" .
In the hacking/cracking scene, the administrative account on Unix-like systems is usually named "root". One of the aims in cracking a system of this type is gaining "root" access, and hence full control of the system. Under this derivation "w00t" is a leetspeak corruption of the word "root", used as a general exclamation of victory.
"What" in leetspeak.

Used as an exclamation, often used alone.
Example: "w00t! i just pwn3d that n00b!" (Commonly used while online gaming.)
Example: "You're especially boring tonight." "w00t!" (Often used as a sarcastic substitute for a meaningful reply.)

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