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1.
It is a crunked up version of Ok. Said when somthing good happened.
White Dude: Dude i fucked a black chick last nite

Black Dude: Yooo you my boy...

White Dude: Yeah

Black Dude: You hit it from behind

WHite Dude: Yeah

Black Dude: Ok kay Kay Kaaayy!!!
by Steve December 19, 2004