he took it out

A famous Seinfeld line spoken by Elaine Benes, by which she meant that a man had taken his penis out of his pants.

JERRY: Why what happened?

ELAINE: Let's see, (thinking) how shall I put this.

JERRY: Just put it.

ELAINE: He took it out.

JERRY: (confused) He what?

ELAINE: He took (blows on her glasses twice to clean them) it out.

JERRY: He took what out?

ELAINE: It.

JERRY: He took It, Out?