It means: “Colored People Time” it plays off the stereotype that brown and black communities often run late when they have somewhere to go.

Music so good it could elicit sexual arousal.

Cautious Politician Time. When a friend of a candidate for the presidency makes a racist comment while the candidate stands next to them and, instead of saying "That's not cool, Bill," later "clarifies" the comment by inventing a definition that nobody in the history of anything has ever used.