Term of derision, along the lines of douche bag. Can be used when joking with friends as well. This word was in use in Bucks County, PA as early as 1990 by high school kids.
"Listen twat waffle, I'm gonna kick your teeth in." - unfriendly "Yo twat waffle, come grab a beer." - friendly
By Phyllida
Twat Waffle
two great things i love to eat, thrown together in a lustful, gluttenous sin fest....with maple syrup on top.