More often than not, it is used in a derogatory manner. Can also be a term of endearment. Personally I mostly say it when someone tells me they did something I have no interest in.
Anybody named Nick who sells 1 gram cartridges of "wax" but it's really vape juice for 45 to dumb lil niggas and beat them up when they want their money back.
Pajama casual is a term used when working from home and preparing for a video conference. All business above the waist and your pajama pants down below.