This idiom does a nice job of simplifying the following: 'Wow, I just acknowledged how typical you are being at this moment and because of this, I will give you my approval and praise!'
Jeremy: "They almost came back in the 3rd"
Alex: "I just got 100% on my chemistry midterm!"
Tyler: "Standy the boy!"
Hans: "Shit I just found out my midterm is in 3 hours"
Gordon: "Whoa, are you gonna study for it?"
Hans: "Nope gonna pull a standy"