This phrase is most commonly used when you do not beleive what your friend is saying. It is said with a slight sarcastic tone and is phonettically pronouncred 'ye al-white'.
"Oi, Boggers, I gave Kym the biggest (donkeypunch) ever last night"
"Ye alright".
by Jamie Calver June 29, 2007
Get the Ye alright mug.