Loosely translated into "What is happening in your life currently?" A shortening of "What's up?"
Also the only carrying feature of a recent Budweiser advertising campaign, one which nearly prompted me to bury an axe in my television each time it came on. The commercial features a group of friends calling each other and asking "Wazzzaup?" in a loud moaning manner. The answer is something involving "watching the game" and drinking beer. The parroting of the question and its answer reminds me of a conversation between altzheimers patients.
Believe it or not this ad campaign has been wildly successful. The ad actually won the Grand Clio award for TV advertising.
In following a proud tradition of slapping advertising images on every product imaginable and aiming said products at young, dumb males, Budweiser put the men featured in this commercial on t-shirts, lighters, hats, and a plethora of cheap, craptacular merchandise.
Budweiser, the clever bastards that they are, returned to the Superbowl with a take-off on the successful advertising campaign: a group of white-collar friends calling each other and asking, in very un-hip voices, "What is up with you?"
Derivative humor from something not funny to begin with.
A friend of mine recently had the opportunity to visit the "Bud Store" in Orlando
. As you can guess, the Bud Store is a shop devoted to Budweiser merchandise. There was an extensive Wazzzup section. Behind the counter was an elderly gentleman who spent most of their brief visit on the phone discussing the prices of various Wazzzup t-shirts.
Before she left, my friend asked the man "Wazzzzzuuuup?" is her best groaning-idiot voice, adding "You must hear that a lot, huh?".
He looked at her like she was from Mars.