What is Zip It Up And Zip It Out?

1.

A saying used to say goodbye to what is usually a caucasian business man with no knowledge of slang in order to confound and embarrass them.

George: "So that'll close off the deal? Great. You have a good weekend Dave."

Dave: "Aight man, zip it up and zip it out!"

George: "Uhh...zippity doo dah! bye bye!"
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