My favorite "word" ever is Welsh.

Llanfairpwyllgwyngyllgogerychgwyndrobwllllantysiliogogogoch.

It's a train station stop (and extention of the town name Llanfair PG) that means "St Mary's church in the hollow of the white hazel near to the rapid whirlpool and the church of St Tysilio of the red cave".

Pronunciation here:

http://www.llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch.co.uk/soundfiles/llandad4.wav