A wanted item in the moment, an object, or subject with a particular amount of attention being payed to it or of significant acknowledgement.
"Yo lemme get dat jones-jiffy." (One may say this to another person drinking a cold soda on a hot summer day to get some in a way of asking can they have it or some of it.)
"That's that jones-jiffy right there." (A person may say this in conversation on the topic of snack foods, alcohol, inhalants such as weed, etc.)