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1.
The name of the phrase is derived from Kim Kardashian.

It refers to extremely amazing or perfect asses

Pronounced - (Kim Kardash-ee-ass)
Example:

Male 1: Dude! have you see Ashley

Male 2: Ashely!? She's got a Kim Kardashiass

Male 1: I know right its absolutely perfect
by TTime33 October 01, 2011