Australian and New Zealand slang meaning excellent, outstanding, or first-rate; something really good or impressive.
From 'bonze' (a Buddhist priest or monk), possibly influenced by 'bonanza' or rhyming slang. Likely emerged in Australian English in the early 20th century, possibly from the idea of something being 'blessed' or exceptional.
Australians took the word 'bonze' and turned it into slang—'that's bonzer!'—creating one of the most colorful compliments in English. It's a great example of how cultures remix borrowed words!
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