1.) At the time of its conception, the word was primarily used as a expletive, like any curse word, but not as vulgar. So more or less, it is used as a filler word like "lol" when one can't find a word to say. Also tends to be before another exclaim like "bah"
2.) Also used to describe an immensely fat feline whose fat foals seemingly swayed in each direction when it moved.
"Hey did you see that funny video?"
"oh, ummm... okay."