A situation or thing favorable to those involved.
Guy 1: He just beefed you, bandana match that shit.
Guy 2: Bandana matches are illers magillers guy.
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Used to describe a situation which is favourable or desirable. Variations include sickers magickers and coolers magoolers.
Person1: Peters is on duty tonight, thats illers magillers.
Person2: No he's not.
Person1: That's a joke magoke, i'm gonna tweak mageak.