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2.
iiwii - pronounced ('e'-'wee') - It Is What It Is. 1) An all encompassing short word to sum up an agreed upon and or well understood simple and obvious situation or action. 2) A simple reply to an obvious statement of fact of which there is little or nothing that can be done to change the situation or action.
1) "This party is out of control!"
'Well my friend, iiwii.'

2) "These guys stink, there is no way they are going to the playoffs."
Iiwii my man, iiwii.


by Mike Maenck October 29, 2008
 
1.
(pronounced: Eye Why)
Short for: It Is What It Is
Fred: Damn, our plane was delayed 4 hours and I missed my connecting flight to Cleveland.

Wendy: Chill out, dude, iiwii!
by Cyprus Denton Fekks September 05, 2011
 
3.
Acronym:
It Is What It Is

pronounced: ee - we

Kind of Zen-ish generic response to a wide range of stupid what and why type questions.
Q: "Why did you do ______?"

Q: "What happened to the ______?"

A: Iiwii
by IronNoodle June 26, 2005
 
4.
The unfortunate result of circumstance
Apocalypse Cat: "Oh God dude. That Jester's Pizza gave me the worst case of mud butt"
Honey Badger Cat: "That's what NOLA pizza does. iiwii "
by Meat Cat March 08, 2012
 
5.
I.I.W.I.I.

IIWII is the text talk for "It is what it is".

1) It is what it is

2) Nothing more, nothing less

3) Its like that and that's the way it is.
She texted me, "I guess we are officially over now"

I texted back, and I replied, "I guess I.I.W.I.I." (It is what it is") baby."
by Merci Merc January 17, 2013
 
6.
1) It Is What It Is
2) Nobody knows why, iiwii, it just is
Nobody cares if he has proof or not, iiwii. You can't change it.
by Kazzi- August 22, 2007