Its often used as an adjective to describe a person/object who/which is mind boggling-ly cool. The person described is smart, funny and sometimes totally gorgeous.
Whereas the object to be put simply is just motherfuckingly cool.
Arushi: Woah, love the shoes!
Smriti: Yeah, theyre coolkid shoes
Ohmygod! Jamie is awesome! she is definately a coolkid.
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