A shortened form of "six in one-half dozen in the other".
Used to represent or describe the same outcome of two circumstances.
50/50.
You could take the highway, or take city roads. It doesn't really matter, they both take 10 minutes, it's six in one-half dozen.
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Someone/somebody that goes to extremes for comedic effect, while the result is the opposite.
That guy is so foyent, he tried to prank the principal but ended up getting suspended.