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1.
a term used to describe something that is good or right. Commonly said to one who is in a good relationship. See example.
1: "Things have been real cool with wifey lately. We back to how things were from the start."

2: "Ok, thats what it is!"
by m-t-a July 01, 2006
7 3

Words related to thats what it is:

awesome damn excellent good great
 
2.
Acknowledgment; spoken appreciation and / or agreement
Person A; Those some dope kicks, my dude...

Person B: That's what it is

{pounds}
by ima90sbb February 26, 2009
6 3