Complete giberish. Means everything, and nothing. The phrase means what ever you want it to mean, though it was originaly heard in the game Half Life 2
Rick: What should we do?
Mark: Yabba My Icing??
Tom: Dude, I broke your cell phone.
Craig: Yabba My Icing bitch!
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).
Precedes or follows either a gratuitously disrespectful or honest remark, originated in New York City. Used in similar fashion to "no offense" or "to be honest," interchangeably.
Ya mans is wild buns, respectfully. Respectfully he's washed.
After school, The Modells on Jamaica Ave was active. Respectfully.