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1.
Asking someone how they are in ghetto slang (are you alright?)
"Y'aight?" "yea Y'aight?"
by Rose November 11, 2003
 
2.
A slang term term and shorthand for "Are you all right"
"You got banged up real good. Yaight?"
by Marc W June 11, 2005
 
3.
A combination between yea and alright. Or a more enthusiastic way of saying okay.
Thing 1: Make sure you take my mascara out of the freezer.
Thing 2: Yaight!
by sixfootrabbit August 28, 2010