You say this right after you say something that could be taken as creepy.
Examples:
Girl1: Omg, hi Ashley! Happy Birthday, you're really pretty, no creeps.
Girl2: Hahh, thank you. :)
*at least she said no creeps or that would have been creepy..*
Boy: Hey you, I like what you're wearing today, no creeps.
Girl: Aw, thank you. :S
*thank gosh for that no creeps or that would have been UBER creepy.*