1. Another way of saying "what did you just say?", or asking the speaker to repeat their previous statement, due to lack of volume or attention or volume.
Synonyms: Huh? What? Whu? What did you say?, say again?, you talkin' to me? etc.
2. The question asked by youtube haters, cyber thugs, and internet toughguys when they first see a girl naked at age 45.
1. Matt: "I heard Dave knocked out Bruce last night and took his dope."
Vinnie: (paying attention to something else) "What's that?"
Matt: "I said, I heard Dave knocked out Bruce last night and took his dope."
2. (Paid-up-front-hooker removes her panties before youtube hater)
45 year old Youtube Hater (pointing to the snooch): What's that?
1. Usually used to get an understanding of what someone is seeing. In most cases, the object in question is a face or an animal.
2. What people say when they just can't quite figure outwhat the hell their looking at.
request to simplify the language, avoid fancy titles etc. uses the idea that at home, people don't bothertrying to sound impressive. calling a spade a spade.