Something that is very good or favorable, one might say your favorite. Used as an adjective. Originated from the Chuckle Sandwich
podcast in which Ted Nivison told a story about his
childhood stuffed
animal “favorite puppy.” Can also be used in the context of “least favorite puppy,” which means the opposite.
Person A: It’s my
birthday today!
Person B: Dude, that’s favorite puppy. I wish I could
say the same, my dog died this week and it was least favorite puppy.