A complimentary term, that can only be said in a certain way for it to work. But most people can't pull it off.
Originated by a character from the television show "Seinfeld"
During Season 3 of Seinfeld in the episode entitled, "The Parking Space", Kramer's friend tells Kramer that Jerry Seinfeld is phoney. To cover up his mistake, he confronts Jerry by saying that phoney is like cool, such as the analogy bad:cool.