1. A particularly aesthetically pleasing pair of breasts.
2. Breasts which receive much attention because they are exceedingly delightful.
3. A nice rack.
4. (singular) qualititty
It should be noted that qualititties are not discriminatory: it matters not if they are large or small, nor does the color matter. Both original and surgically altered can be qualititties; it is basely solely on the wowza factor. Also, this is meant to be complimentary not pejorative.
"Wowza. Look at the qualititties on that woman over there!"
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.