The combination of both nifty and neato. This means, of course, that the noun being referred to is doubly as cool.
Girl 1: I just got the album Guero by Beck!
Girl 2: Beck is nifty neato.
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The perfect combination of both rhyme and meter to describe something especially snazzy. Goes beyond nifty neato.
Lola: Check out the tweed dress I picked up at Goodwill!
Oliver: That is nifty neato, breakfast burrito.
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