Klab

Stands for klassy fabulous.

People use "klassy" instead of "classy" to show that they think that they are an offbrand version of classy.

Ironically used to insult people wearing overly fancy/expensive clothing, to the point where it becomes not fancy.

Person 1: Did you see Kendall Jenner wearing that Chanel top? The brand was plastered all over it!
Person 2, sarcastically: Yeah, that's sooo klab.