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1.
Cool and the gang is a term used to describe a state beyond cool. You are so relaxed, cool, and calm that you are almost surreal.
1 - "Hey man how are you?"

2 - "Yo brotha! Im cool and the gang!"

"Tonite i'll be cool and the gang, you just wait"
by Alex May 31, 2004
52 12
 
2.
Used to mean that everything is alright.
Vincent paid for breakfeat.

Jules: , "Hey, that's cool and the gang!
by redbuda April 24, 2003
32 10