Generally, used to describe several different things as follows:
1. A person's own excellent physical/mental state.
2. The outstanding physical appearance of another person.
3. A state of being extremely thin
(Since frogs do not have hair, something that is "finer than frog hair" means something that is as thin/fine/excellent as possible).
1. Bill: "How are you doing today?"
Joe: "Man, I'm finer than frog hair!!"
2. Bill: "Wow, have you seen that new girl in accounting?"
Joe: "Yes...what a hottie, she is finer than frog hair!!"
3. Bill: "This new fishing line is the thinnest I've ever seen"
Joe: "I agree, it is finer than frog hair"
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