A Mexican homeowner (who has been handed the property by his parents) who cruises the parking lot at Home Depot or Lowe's, searching for a white Anglo-Saxon to hang dry wall during a refurbishment.
Yo, Lupe, don't bother with that S'coopy. He's waiting for Chad to finish the job.
Contraction of "It's alright," frequently used in England where pockets of cliquey buzzwords drift through the populace obsessed with fitting in and following the latest trends.