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Fabby Dabby is when you're so happy your brain short-circuits and you don't care if your dog eats your homework or your brother steals your pizza.
Just saw my ex fail a math test and I laughed so hard I cried. Fabby Dabby!
My cat knocked over my cereal bowl and I didn't even care. Fabby Dabby!
Got an A+ on my science test and my dog gave me a hug. Fabby Dabby!