A "whatever" responce to an insult. Indicting that the person went nowhere in life by making that comment. Espescially since it wasn't true. It is a phrase spoken more commenly by girls than guys.
Girl 1: I heard what you did with _insert name here_ at the party last night. Whore!
Girl 2: Cool Life (walks away)
Girl 2: Cool Life (walks away)
by Jordash the Nomad February 5, 2008
by Linasaur November 14, 2010