Abbreviation for "You're entitled to your own opinion". Synonymous with "fair enough" or "I can't really come up with a good enough counter-argument for what you've just said, hence I am going to play it safe by dismissing the choice of arguing as unnecessary".
Person1:"This band rocks man!"
Person2:"No way! The singer's so drunk that he sounds like a recruiter for the Legions of the undead zombie whordes from Valhalla"
Person1:"Yetyoo dude, Yetyoo..."