Phat one. If your hear someone say “Imma take a phat one on you” it means that they are gonna to take a massive nasty ass fart on you that is equivalent to being shit and pissed on by two fully grown homeless men.
A Phatneek is more commonly known as a neek, Phatneek means someone who is not the brightest person as well as is just annoying and gay at the sametime.
An Exclamation. Used in the same manner as the word "phat" but with an extra "ness" to the end. It can also be used in place of an exclamation point but in an seperate sentence. Phatness and an exclamation point combined yield amazing results.