This saying is used to peer pressure others into doing bad activities, such as drugs, pooing in front of others, or drinking another dude's piss. However, it sounds so retarded that it can only be used ironically, and my friends and I often use it in a very joking and ironic context, encouraging each other to do absolutely retarded shit by chanting "do it and you're cool"

A term used to reference cannabis/marijuana/weed.

A phrase usually mentioned to get someone to do something that may not be cool but, sometimes is.