A slang term that actually began it's use in the late 60's/early 70's. Popularized by the pop culture of the time. Used to describe something very favorable or pleasing. Great. Very nice.
Cheech: Hey man, look at this car made out of weed!
Chong: Oh cool beans, man!
by Reverend Chaos January 13, 2004
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A synonym mainly used when words like cool, sweet, awesome, splendid, amazing, delightful, hell yeah, etc. get old.
"Hey, dude, I won the lottery."
"Cool beans!"
by Rosemary February 24, 2004
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a slightly 70's style phrase which acts as an exclamation of approval to a previous statement
'i just got that girls number!'
'cool beans!'
by jimbob brown April 06, 2006
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It is originally from Boston, when the baked beans that had just come out of the oven were cool enough to eat, the cook would announce, “Cool Beans.” It became more popular recently as a result of a Bush Beans commercial in the mid 80s, when the talking dog, Duke, said it in one of their commercials.
Mike: I got the new madden game.

Joe: Cool beans
by slimshady7 October 16, 2009
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A phrase popularized in the 1980s by U.S. teenage females who were viewers of the American sitcom "Full House." For some yet unknown reason, these persons found the show entertaining and desired to emulate actress Candance Cameron whose character repeated the phrase incessantly on the show.

The phrase then spread like a virus, infecting the vernacular of people of older and younger generations regardless of gender...these people were born without the ability to discern that this phrase was, to put it in the parlance of our current times, "fucking stupid."

Is used to express approval or liking.
Person A: "Hey, its TGIF on ABC tonight! Wanna watch 'Full House?'"

Person B: "Cool beans!"
by Say Again September 24, 2007
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