1. an expression of approval and thanks for a good deed, OR, 2. can be used in sarcasm to show disinterest in someone's actions or feelings
1. Miss Utility: "I'm not wearing any panties."
Tito: "That's whats upgood lookin out!"
or
Danny: "I got laid off today. I need to look for a new job."
Tito: "That's whats up good lookin out?
You at the shoe store about to by one pair of J's but they got a sell for buy one get one half off. So, your homie tells you to take the sell. You respond by saying "That's whats witted!!! Good lookin."
please note this does not account for all members of the minorities listed above,as in meaning not all black/white/black-wannabe's are like that,but to be fully truthfull alot are,and thats whats wrong with our world nowadays..