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2. What of it?
A rhetorical question used when you are participating in an activity that deserves some form of recognition either due to its awesomeness, obscurity or insanity.
"Getting crunk in the X for the 13th night in a row.. WHAT OF IT?"
1. What of it?
A phrase used to ask, "why should I give a fuck?".
"Hey man, heard you got a new tattoo of a unicorn shitting a rainbow. That kind of seems a little gay, don't you think?"

"What of it?"
3. What of it?
When someone gives you a look , or thinks you're fkn offensive, you say it.
When they look at you , and they're like WTF? and then you're like WHAT OF IT? BITCH!
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