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m! means "pinky up", referring to something of high class. It can also be used sarcastically when describing something of absolutely no class whatsoever.

Etymology: In the Spongebob Squarepants episode "Tea at the Treedome" Spongebob and Patrick try to be polite and classy guests at Sandy's house by holding up their pinkies.
Fred: "They looked so classy in their limo!"
George: "m!"
by Shonkonfi June 28, 2011
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