The term rip-snorter is Australian slang for something that is excellent, or generally very good. You may say 'that cake is a rip-snorter', or 'that was a rip-snorter of a goal'.
It is also a brand of beer marketed by the Hogs Back brewery in Tongham, England. Rip-Snorter is a winter beer, it's only brewed in the winter. It's a red beer with a touch of fruitiness and a large malt flavor, which leaves a slightly bitter after taste. It's a real rip-snorter.
For an online dictionary of slang including meaning, check this site out.
http://www.peevish.co.uk/slang/links.htm#australian
