BEER WOLF! is a term used to say that something is bad. It is used in the same context as "Fail" or "FML" or "Asshole" etc. When a person says BEERWOLF! they must point at the thing that they are "BEERWOLF!"-ing. When typing "BEERWOLF!" it must be spelt in all CAPS and an exclamation point must be used, this is to show that you are pointing.
Ms. Paoletti gave us 8 pages of Algebra on SPRING BREAK?!...BEERWOLF!