This is used by (or, more commonly, when mocking) extremely FUCKED UP people. Often AOL users who visit teenage chat rooms from ages 8-12 and pretend to be cool.
"18/f/big boobs, wanna cyber?"
"U sound hawt want 2 meet irl??????"
"I know, like, totally."
"HI ALL I M NEW WANT TO GIVE ME ALL UR STUFF?"
"OOOOH HOW DO I GET THAT?"
"WOW UR HIGH LEVEL I WANNA B LIKE U"
On the street:
<That is all they can say, because if they say anything else, they'll be shot by sensible people and end up saying just that.