Whenever you hear this word being used you know: a) The loser is trying desparately to be cool. b) The loser is trying desparately to be black. c) Both.
This phrase is especially popular amongst insecure, uncool and extremely lame, adolescent, middle- or upper-class white surburban wiggers.
WARNING: Never let your friends or loved ones use this phrase except in mockery or jest. Should you hear them utter this retarded catchphrase, proceed to beat some sense into them using any method you can. You will thank me for it later when people wake up and realize how stupid phrase really is.
Loser #2: "Fo shizzle!"
While originating out of hip-hop culture, this phrase has been overused to the point of triteness. Its most famous usage is
Rich black man in response: "I concur with you whole heartedly my fellow African brother."
Ghetto black man: "..."