[Schnabel]

That's right! Merriam-Webster has officially made w00t a word.
Correct Spelling: w00t (w - zero - zero - t)
Definition: expressing joy (it could be after a triumph, or for no reason at all); similar in use to the word “yay”

I think this is very cool because now I can use this in my papers for English class, and my teacher will have nothing to say about it!