A phrase with many definitions!
Can be used as an insult or as a sign of friendship!
In the case of an insult the word "f*cking" is often added in front!
Some describe it as a new-and-improved version of the word Gangsta
"Waddup my Geeze hat?", "You and your homies are all f*cking Geeze Hats!", "Come on Geeze hat, Come get me!"