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it's cool 

This can be quite confusing at first because this really means the opposite of cool. When you hear this term, its really not cool in fact it couldn't be more un-cool. Often hearing this means that the person thinks what you just said is totally un-cool, gay and that they are very upset, the person may in fact want to now punch a baby.
Me: Hey can I call you right back, Mike was trying to grill and there is a flaming whore running around in our backyard now. I really need to put her out.

Adeline: It's cool, call me whenever.
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A phrase which describes ones general disinterest in the aforementioned thought.
Hall: Guys I totally went SOP on that ACU patterned N64. I was going so HIP, if I don't do nothin' imma ball. Total duffle bag boy.

Everyone else: Oh, cool.
Oh, Cool by csmith2009 April 3, 2011
Related Words

Not cool 

That shit just is not cool, man. Why'd you desert your homies at a time of need?
Not cool by Anon255 February 13, 2013

Nigga be cool slap 

A slap to calm you or your friend down when out of control
You better chill before I Nigga be cool slap you!
Nigga be cool slap by Solja Loki February 12, 2009

classic cool 

1: an all-American style that's admired for representing casual luxury* (see Abercrombie & Fitch) 2: displaying one's self-confidence, energetic attitude, and athleticism, social way. 3: the embodiment of well-liked characteristics, such as creativity, intelligence, and leadership.
Hey man im so classic cool because i shop at abercombie and fitch

double cool with ice 

1. to be the coolest of cool; this is the next level after 'cool as a cucumber'. People who are double cool with ice typically don't give a damn what anyone else thinks, can have fun anywhere/anytime, and give off such an insanely cool vibe that everyone else wants to be like them.

2. a way in which to order a drink if you want it in a very cold state.
dude: Wow, did you see that girl dance?
dude #2: Yeah man. She is definitely double cool with ice.

OR
girl: can you mix me a coke and rum, and make it double cool with ice?
bartender: for sure.

lol cool 

Something that someone says/texts/type when they want to reply, but really don't feel like talking to you, or truly can not think of anything to say/text/type. (This phrase is IMPOSSIBLE to respond to.)
Person 1 - I went to Chile's today.

Person 2 - Lol cool.

Person 1 -.... HOW AM I SUPPOSED TO RESPOND TO THAT?!
lol cool by jamesmac94 October 18, 2010