Relatively new and unheard term synonymous with cool, badass or pimp depending on context. Has a benignly smug connotation when used in the first person.
Dick: "Damn, you totally just told that kid off."
Jane: "I rock ice, what can I say."
In response to Iran's Ayatollah Ruhollah Khomeini (24 September 1902 – 3 June 1989) banning all music from Iranian radio and television in July 1979, the British band The Clash made this song as their protest against it. Ayatollah Ruhollah Khomeini is of the islam religion, which dictates to its muslim followers intense hatred to all infidels (aka nonbelievers).