thats what it is
a term used to describe something that is good or right. commonly said to one who is in a good relationship. see example.
1: “things have been real cool with wifey lately. we back to how things were from the start.”
2: “ok, thats what it is!”
acknowledgment; spoken appreciation and / or agreement
person a; those some dope kicks, my dude…
person b: that’s what it is
{pounds}
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