its a cheesy and kind of old way of something is cool
1) Lets go to Luxor cafe, that place is the cats pajamas!

2) A: I found a 100 bucks in my pocket.
B: Thats the cats pajamas, man/woman!
by OxfordEnglishDictionary January 3, 2009
Super hip. Amazingly sweet. Fantastically cool.
you looks so fly in that outfit, you're the cat's pajamas man.
by where am i? November 10, 2005
An adjective used by hipsters of the 1920's to describe a person who is the best at what they do.
Also used to describe another person who is genial and fun to be with.
This term has been recently popularized by the movie 'The School of Rock'.
Synonym: bees-knees
"Martin sure knows how to dance, he's the cats pajamas, man!"
by Mitch May 31, 2004
(adjective) term used to describe a person or object in a postive manner. similar to "the bomb" or "the shit", means the object in question is cool.
"that girl over there is totally showing off the goods; she thinks she's the cat's pajamas."
by Mr Bo Jangles July 5, 2005
1920s Lingo describing someone (something) who is great, incredible or special. Usually indicating stylishness or innovation. Pajamas were a relatively new fashion in the 1920s. The term "cat" was beginning to be used as a term to describe the out going and unconventional jazz-age flappers.
That girl wearing those Paris Hilton sunglasses must think she's the cats pajamas.
Those crazy rinestone studded platinum teeth are the cat's pajamas!
by Thomas the Bombest May 10, 2007
50's slang for something that is cool beyond imagine.
The new elvis record is the cat's pajamas
by phi April 25, 2004
The term "cat's pajamas" comes from E.B. Katz, an English tailor of the late 1700's and early 1800's, who made the finest silk pajamas for royalty and other wealth patrons. This phrase is often likened to and/or confused with the 20's term "cat's meow".
by skulldugger November 21, 2007