MC asking the DJ to reload or rewind the track, so the crowd can get hyped on the whole thing.
This commonly happens after a fire beat drop to let the crowd have the whole song.
MC: "PULL IT"
(CHASE & STATUS rewinds all decks)
MC: "PULL IT, PULL IT, PULL IT, SOMEBODY SAY CHASE & STATUS"
CROWD: "CHASE & STATUS"
When you have no time, are unprepared, or don't know what you're doing... You're pulling it out of your ass. Commonly used in situations where a person may have procrastinated or waited until the last minute to prepare anything, or is put in position where they must perform or answer questions on things they have no idea about.