look up any word, like bae:
 
1.
loosen up and stop being uptight
Don't get too hot-blooded; cool it!
by oberon August 15, 2004
 
2.
Said to someone when they need to chill the hell out
Guy 1: OMG HAX MOTHERFUCKER!!!
Guy 2: Bro, coolit
by jimaniza November 20, 2009
 
3.
Alternate word for chill and or hanging out
Dude lets just go by the dock and coolit.
by Eddie Huckoby April 13, 2007
 
4.
A cutdown, To show u are listening but it is not runnign thru ur brain other word Who gives a fuck.
{ME} Hey did u call my house and hung up the phone on my granny.DA Bitch}no I didnt{ME}Cool it I was on the other phone.
by Rob Easy June 16, 2008