The words Big 'Ol Titties flipped around in a latin sense to sound decisive, like Nucking Futs = Fucking Nuts. These words or this saying is used to describe a female with enormous breasts, usually 34C's and above.
"Damn did u see that jail bait ovar thurr?" Exclaimed Ammoseller "No", replied David Hasselhoff. "Well she had some TIGG OL BITTIES!!!", Ammoseller replies decisively. /nut busts.
or just straightforward:
(big titties spotted) "OH DAYUM TIGG OL BITTIEZ!!1!"
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.