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It's an exclamation shouted right after stealing the basketball from the offense. It originated around 1991-1993 and was related to the cookie crisp commercial in which the cookie crook tried to steal cookies from the breakfast table while his dog sidekick screamed cooooooooookies.

-Chris Allen @ceeayy
COOKIES! Yo, you see him steal the ball from son.
cookies by CeeAyy December 31, 2016
A source of energy for some carbon-based life-form. It usually contains flour, sugar and some type of oil or fat. Sometimes, the carbon-based life-form so-called "grandmother" uses a method of cooking food that uses prolonged dry heat to produce cookies for their child's son and daughter.
Hey fellow mortal, do you want this energy source that contains flour and sugar that they call "cookies" that can cause "happiness" and "joy"?
Cookies by SpaceDustHunter October 24, 2017
A senior boy who tries to get with a freshman girl just for a sexual relationship.
"Omg Allinda, have you seen Cookies? I can't believe a senior like him would even TRY to get with you!''
Cookies by AndyKaito April 11, 2018
Stealing the ball from the ball handler in a basketball game.
Damnnn. Nas was prolly thinking, “COOKIES” when he stripped Zion naked.
Cookies by YehYah May 17, 2018
To rip the ball-handler in a Basketball game.
Klay: you can't steal the ball from me!
*Zay steals the ball.
Zay: Cookies! Gimme that sh*t.
Cookies by PostmanClamps July 14, 2019