Something that is in style now. Or what is popular today.
Song, Clothes, Shoes, People, etc....
Shaquaqua: You hear that new DJ Unk, its crunk?!!!
Shalalaqua: Yea gurl, thats what that is!
Paul: I guess you think you cool
John: Im what that is, you aint know?
"Im what that is, you what that aint"