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It just means "no problem". People add "bob" because it rhymes with prob. Earliest usage can be found in the sit-com "Family Matters".
"Thank you, Steven!"
"No prob bob"
"It's.. Lapis."
by Shoken April 21, 2016
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2
an extremely annoying phrase used by zurbans, that conveys mutual trust and sympathy.
Zit 1: "hey Eric can you help me with your magic sword +1? we must defeat the black dragon!"

Zit 2 : "No prob Bob!
by heythewhat January 08, 2012
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