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Shortening of capslock, itself a shortening of "capital letters lock". As the usage of capital letters online often carries the connotation of yelling or screaming (which can be rude), leaving capslock on accidentally can lead to confrontation, hence "caps" to inform people that you did it by accident. I have no clue why this shit has not been added yet considering how important it is to internet etiquette.
The phrase "caps" itself can be considered a shortening of "sorry, left capslock on". "sorry, caps" is also common.
bob: "HEY GUYS, HOP ON SEX 2™"
also bob: "caps"
his crew of mischevious individuals: "all good"
The proper terminology for when a mf says some goofy ass shit and you tell them they are factually incorrect
Examples: Stop the cap, the amount of cap in this statement is off the charts, I couldn't process the amount of cap you just said
Lying or being dishonest. Used often online.
Bro that's Cap, I didn't rob that bank!
Bullshit, exaggerating
To tell someone you know some one you don't
A all around liar for the sport
I just won 50,000 at the casino look!
Quit cappin moe
This word means Gay and that you are bad in bed.
Example
Bro you cap get yo ass out of here and go fuck a guy
what you say when your gf's lips taste like your homie's pp and she says she hasn't been sleeping with him
A: I didn't sleep with ur homie!
B: cap