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Wang: Back in the day we used to eat wood.
Chong: No you idiot, that was a thursday. you dumbass.
Completely meaningless phrase which has gained mysterious global popularity. It means "Once, I..." or "I used to..." but is uglier and lazier. Similar to the equally meaningless "at the end of the day..." popularised by English soccer stars.
Back in the day, I used to be younger.
I was a child once, back in the day.
A colloquialism used to describe a point in time, specific or otherwise
Person A: I found some old records in an antique store the other day; made from vinyl and everything.
Person B: What are records?
Person A: They're how people listened to music back in the day before CDs and radios.
Old School, really old, classic
We be pimpin' like mac daddies back in the day!
Referring to a time period, at the very least, 2 years ago.
Guy: Remember that baby you had back in the day?
Girl: You bet I do. That was like 2 years ago.
A pretentious phrase some people use to signal approval for previous irresponsible conduct while avoiding references to the consequences of conduct they learned by necessity to avoid.
Back in the day we drank gallons of liquor and battered anyone we did not like.