a far classier version of "i like your style", originally used by pirates in the 17th century the expression refers to the forward sail on most ships. The course and speed of a ship is determined by the cut of the ships jib so saying that you like the cut of someones jib is a way of saying, i like the way you're heading.
Original 17th Century Pirate context:
A - I think we should mutiny, Yarr!
B - I like the cut of your jib (jim lad optional)!!!
21st Century context:
A - lets go for a beer and some readily available cannabis
B - alright, i like the cut of your jib
If someone tells you to "Get your head out of your ass," it means that you have to start paying more attention to what's going on around you. It could also mean that you have to stop being so consumed with yourself, and your own well being, stop being so conceited.
John: I am so good at painting, I must be like Michelangelo!
An internet meme of sorts. The original phrase spawned from the move "Titanic", where the line is said to Leonardo Dicaprio. This phrase is used in conjunction with photos of characters usually laid out in sexually suggestive poses.