A perfect man. A man who loves his wife. He is classy, lovely, romantic, sexy, cute and strong. You can trust him, he would never tell anything to anyone else.
That guy who still hold bags, open doors and protects you. You can travel the world with him. He would never leave you alone. You are his number 1, forever.
A line from Little Rascals made famous by Gordon Lee, who played Spanky's kid brother, Porky. Lee's signature line, "Otay, Panky," came about because he had a speech impediment and couldn't say his K's and S's.
Currently thr phrase could be used as an affirmative reply when someone tells you something fairly obvious. It's a silly way of saying "okay."
Bob: "Don't walk in the steet because you might get hit by a car."