Used to acknowledge and approve of
something. As opposed to 'cool' which may or
may not
clearly suggest approval.
Example 1 (using cool)
Person 1: I am going to become a
giraffe.
Person 2. Cool.
This might come off as
ironic or insincere.
Example 2 (same but using very cool)
Person 1: I am going to become a
giraffe.
Person 2. Very cool.
This comes off as heartfelt and sincere.