Used to describe a situation where you and someone else are aware of the mistake that a 3rd person is making. For this to be an "I know, you know." the 3rd person should be blissfully unaware of the situation.
"Hasn't Yoshi twigged that bird over there is a shemale?"

"I know, you know."
by Scotsdave December 2, 2004
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- I know you love Hannah !!!
- No I don't ..
- Oh stop I know you by heart ! You can't lie to me 😂
by Pascal cœur October 21, 2017
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Something somebody said something you don't want to hear or you know someone lying
Your my girlfriend I know you lying
by Adsdhwn July 15, 2019
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When someone is trying to roast you but he did something lamer than you.
-DAMN, your haircut is so ugly!
-BITCH! I know you ain't talking with that shitty ass fade.
by magicthanos March 22, 2021
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Sometimes misunderstood as "I know you've got sol". Taking the lyrics of the Simply Red song you utter this phrase when toasting or after opening a bottle of Sol mexican beer, generally whilst drunk.
Toasting

1st Guy "I know you got..."
*raises opened bottle*
2nd Guy "...Sol!"
*clinks their open bottle with the raised bottle*

Opening

"I know you got Sol!"
*swigs from bottle*
by ConradtheBrave October 18, 2007
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I was a kid in the 60's.. This phrase was not used by older sophisticated persons.. It was simply a juvenile response to juvenile name calling.. Some dumb kid would say: "You're Stupid" the simple and quick response would be "I know you are but what am I".. Sometimes (probably when first used) a good come back to one who was truly stupid, because it confounds them, confuses them.. "Uh uh uh, um, you're stupid?"
In actuallity, the phrase would go back and forth, several times.. "You're stupid", "I know you are but what am I" "You're dumb", "I know you are but what am I".. "What a jerk", "I know you are but what am I", "Jerk", "I know you are but what am I"...

Just a juvenile thing.. Used so often though (way back when) that til this day, I use the phrase in response to good compliments.. Most people my age, or close too, enjoy and laugh :)

Example: "You're cute" my response "I know you are but what am I" :)
by iBilly October 1, 2013
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