Derived from Dabob Bay, Washington.
1) Cool, exciting.
2) Ridiculous, incredible.
Generally: used as adjective or adverb, Dabob is a term meaning "cool," "defamatory," "sexual," or any number of other things, depending on context and inflection.
2) "Hey, don't dabob my steak. I Dabob's all day curing that baby, and I'll be dabobed before I let you suck it down without givin' me no dabob for the effort." (In this example, dabob serves as a rough synonym for taking without authorization, getting screwed, and givin' love to a brotha)
3) Easy proxy for any song lyric that you can't remember (e.g., da-bob-bob, day-bobo-ran)