It usually follows a heated exchange of verbal insults and/or threats, but can also be instigated by other means (e.g: girlfriend being eyeballed, etc.). Those that use this slang term adhere to the codes of "walking the walk, not just talking the talk", as well as "speak softly and carry a big stick". They generally don't go looking for trouble, but will deal with it without any hesitation or fear.
Icecold: Come at me bro.
*Hotheaded jerk lunges forward*
*Icecold drops Hotheaded jerk with 1 punch to the throat*
Icecold: DETROIT WHAT?
Bystander: Hey y'all, let's go get sum Dairy Queen!