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1.
It comes from Bill Cosby, and was used in his stand up routine when he talked about going to the dentist. After having the injection his mouth has gone numb and his lips are hanging loosely. The dentist asks him how is the family and he says "ObKb", because he can't move his mouth normally.

There may also be other references to OBKB in Fat Albert and the Cosby Show.
Dentist "So Bill hows the family?"
Bill "ObKb"
by Aaron Markie February 14, 2005
185 45
 
2.
It's like saying "okay" but adding some bee sounds in for extra cuteness/stupidity.
Bill: Let's go to the beach.
Albert: obkb!
by plasticus April 28, 2004
45 69
 
3.
ok, be kool, bye
by anonymous October 06, 2003
31 99
 
4.
Okay, bye bye
later douche,

OBKB!
by MF B February 06, 2003
7 82