A deviation of Cool Story Bro. To be used when someone tells you ridonculously lame, non appealing, inscrutable or aggravting jokes. If they get it, it shuts 'em right up. If they don't, then you laugh. You end up being the funny sarcastic asshole anyways.
Dick: What does a sorority girl put behind her ears to make her more attractive?
Nick: whats that?
Dick: Her ankles
Nick: Cool Joke Bro
Dick goes back to work, mentally regretting opening his mouth.
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when your friend gets mad from you doing something that hurts his feelings and you try to avoid him hurting you
ie: destroying his hard work
You: casually destroys your friend's 8 yr old Minecraft SMP
Friend: STOP ITT OR I WILL (put life threatening phrase here)!!
You: bro its a joke
Friend: ok
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A joke that no one else can understand but your bros.
"that's not funny"
"yeah, you wouldn't understand, it's a bro joke."