Taffy is an acronym that means something is really cool or awesome. The word comes from the saying "Tits As Fuck, Yo". If something is cool, it can be called "the tits" or "cool as fuck". This phrase combines the two, and becomes "Tits As Fuck, Yo", or simply Taffy.
Guy 1: Did you just see that Ferrari drive by? That thing was sweet!
Guy 2: Nah, that thing was TAFFY!
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