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To be an extreme or special instance, as if it wins a cake for being so extreme or special. Usually used in the form "I have seen/heard a lot of (variable), but (this) takes the cake." A common, but aging phrase in Scandinavian languages.
A: Did you see that girl?
B: Yeah. I've seen a lot of girls in my life, but she takes the cake.
A: I'd let her take the cake any day.
B: You're an idiot.
by Bennyishere January 12, 2009
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To excell to the point of winning. Originated from slaves "cakewalking," a dance to imitate and make fun of ballroom dancing. Some slave owners would hold cakewalking competitions, and reward the winner with a piece of hoecake.
"That boy can dance!--he's got what it takes to take the cake."
by KiwiVanilaXtract October 1, 2007
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One who "takes the cake" is the drunkest person(s) within the group.
Who's going to take the cake tonight?

Bobby. Bobby likes to party. He's taking the cake for sure
by JaWu July 5, 2007
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