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A fancy Australian way to trip someone and then yank their pants down and stick your finger up their butt. It's also a loud greeting where you scream 'HABAWATAY' and everyone else does the same.
I saw my cousin do a habawatay on the soccer field and then laugh like a maniac.
At the party, I yelled 'HABAWATAY' and my friend stuck his finger up my nose.
My brother did a habawatay on my teacher and got sent to the principal's office.