n. 1)secreated from people/animals/objects that happen to be the best 2) used to smother waffles, gummy bears, chocolate, and other delectable ettible objects (common day we call this food)
Friend 2:describe what?
Friend:that totally epic event
Basically the object or activity has more 'Awesome' in it than most objects and activities in it's genre.
"Sounds like Awesome Sauce to me."