Pretty much saying "yeah right" but in a much more sarcastic way...

Intense sarcasm and making fun of someone else for saying something ridiculous or untrue.
mike: hey man, i just got with this chick last night.

jack: really? damn kid i'm glad you finally hit that.

mike: oh, we didn't actually go all the way, we just fooled around.

jack: yeah dog.
by thecoolperuvian February 07, 2012

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