This term is used to
connote positivity, or
negativity with a particular situation, or object.
On its own, the term is good. But, mix up your words a bit, and you can
flip it around to make it seem bad.
"Dude I crashed into a
manure truck the other day."
"I'm not surprised, your driving isn't exactly award winning."
"That
Klipspringer is an award winning son of a bitch."
"Dude, Terry is so
rico suave with the ladies, it's award winning."