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To quit something, to stop it like the show Full House was canceled. Normally used in a rapping like way...
After 20 minutes of hearing the bitch screaming from the house next door, andrew finally had enough. He stuck his head out the window and yelled "CUT IT OUT LIKE FULL HOUSE, BITCH!"

If somebody is talking to you for a long time and you just want them to shut up, look at them and say "cut it. cu-cu-cu cut it. Cut it. Cut it out like full house".
by Old El Paso April 12, 2006
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