What is Giving It?
1.
1. A superlative descriptive adjective in reference to doing something to the excess or exceedingly well.
i.e. We were "giving it" to the dance floor at the club last night. We were totally
2. A gracious statement made when someone allows another person to have something.
i.e. That blouse looks fabulous on you, I'm giving it to you.
I'm "giving it" in the above definitions.
See