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1.
A contraction derived form the words "It is all good"
1) A gesture to indicate that there is no harm done.
2) a response to the question "s'up?"
1)-Hey man, thanks!
-z'allgood
2) -Hey man, sorry for scuffing your new lugz
-z'allgood
3)-S'up?
-z'allgood
by Chingyiswack November 07, 2005