An emoticon that shows contented satisfaction. Derived from anime when a character is pleased.
It resembles the owo face, except the dashes represent eyes.
Kayla: Did you talk to him yet?
Serenity: I did. I'm kind of proud of myself too. -w-
Kayla: Yay!
By Edythe
-w-
-w- is an Emoticon, involving the hyphens being depicted as eyes, like -__- And the W being a grumbly, lazy type of mouth. Used to show that you don't care.
It now stands for the activity which surrounds most of the time in which the web is browsed - Wanking While Watching (another video stream or live webcam) or, Wanking While Waiting (for the next lot of porn to download).
(For the Brit-ignorant, Wanking is the same as jerking-off/Whippin Mr Zippy/Polishing the PurplePink Pole, over here in Limey-Land.)
In terms of a differnt style of generation of the phrase :3 as in a animeish style version of the :3 hamster face Expression being really happy, or a big grin its usually followed with the "!" mark with how happy you are..