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1.
1) its all good; the extra bit that makes life more bearable

2)it doesn't matter; expressing indifference

3) an attractive female literally coated in gravy; all you see is tits and gravy
"I just found ten bucks, but some kid says its his."
-"I scared him off man, it's all tits and gravy."

"My mom died."
-"You'll get over it man, it's all tits and gravy."

"Hey look, that chick just got hit with a giant wave of gravy from that gravy train!"
-"Yeah, tits and gravy, man. That shit is hot. And sticky."
by Mark Riechers April 24, 2006
 
2.
Two great things: tits and gravy, now together at long last.

Also, British slang for "allright," peachy keen, cool, hunky dory, copasetic, mellow, A-OK, all clear on the Western front, etc.
Last night, my girlfriend poured some gravy on her boobs and told me to lick it off. Everything's tits and gravy over here.
by The World II October 05, 2007