Attractive and gratifying. A synonym for "cool." The most inefficient synonym for "cool," that is. I have never heard anyone use this word, besides in a cartoon where the protagonist uses this word to compliment someone. This someone so happens to be a fat dude. The show then emphasizes how far this kid has shoved his foot into his larynx. Using this word unironically is not a good idea, as its homonym is not the most flattering adjective. No offense to fat people, though. They're usually pretty cool.
Johnny Test: You're looking super PHAT today!
Cool Clerk: WTF dude? Rude!
Johnny Test: You know, PHat, with a "PH!"
Cool Clerk: That's totally lame bro.
by Derineka February 20, 2021
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An expression used when one wants to get really really fucked up on a night out.
"What are you doing Friday Sean?" Asked Jordan
"I'm getting Phatted mate" Exclaimed Sean

Or

"I'M GOING TO GET FUCKING PHATTED LATER ON"
by BDFlynn June 2, 2014
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In the 80s, an 18 year old inner-city black kid from Richmond, Virginia told me that it stood for "Pussy, Hips, Ass, Tits", And he told me this around 1985. So that word is AT LEAST 27 years old. True Story. Just thought I'd share with you.
That girl is phat! Did you see that?
by Bored Dude May 13, 2007
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A large ass on a girl. It's like fat but as a compliment. Similar to the use of thicc or thick
Did you see how big that girls ass is? It's phat!
by MayorAadamWest December 27, 2017
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Pretty, hot, and tempting
incorrect acronym
"Damn that Jadzia is PHAT"
by Jadzzz June 29, 2017
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Phat does mean Pretty Hot And Tempting, like the other definitions say. The problem with "phat" is that it is no longer in really. It has kind of phased out and is mostly used by wannabes, lowerclassmen in high school, or middle schoolers. It is now considered a slang faux pas. I wouldn't use it if I was you.
14 year old: "That's phat man."
22 year old: "Um, dude, that word got old in the late '90s"
by Doobie Smokes You December 15, 2004
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