Ayayay was kind of a synonym with "hella" or "i'm down with that" during the 2003-2004 year at Winship Middle School, and the 2004-2005 year at Eureka High School.
Guy 2 (speaking to guy 1): Man, that was a great pass!
Guy 1: Ayayay!
Expression of anxiety and a wish to make peace, used often when a fight breaks out.
"Ayayay.... caaaalm doooown"