look up any word, like swag:
 
2.
1. It's a successful task.

2. It's over.
1. ME: Is it good about me getting transferred out.
BOSS: It's a wrap. It happens first thing Monday.

2. The second I think you're not taking this opportunity serious, it's a wrap for you.
-50 Cent, from "The Money and The Power"
by Mr. Terrence L. Trezvant October 19, 2008
 
1.
a phrase usually that means something is about to go down, or somehing is over
aw naw its a wrap i'm bout ta beat that bitch ass

its a wrap, i got a 1.83 on ma report card
by anonymous February 16, 2005
 
3.
a phrase commomly used to suggest that your relationship is over, used in a song by Mary J. Blige..
It's a wrap
Why you go and do me like that
I thought the love was good
But I misunderstood baby...mary j blige
by Cassie July 05, 2004