Equivalent to, "great news", "hell yeah", "fuck yeah".
Statement, "I just closed the deal."
Statement, "You play the new Doom? Badass, right? "
Response, "Bang, bang, chicken & shrimp"
In old Texan it means, "It's not that bad", "It could be worse", or "Make the best of it."
The saying in Texas that's been around for generations goes, "Tough titty said the kitty, but the milk's still good."
The titty may not be perfect, but you've got milk so stop complaining.
Son: "They messed up my order and put mayonnaise on my burger."
Dad: "Well, son...tough titty...scrape it off and eat the rest of it."