kristen22 answered Wednesday August 9 2006, 2:23 pm: It stands for: Pretty Hot And Tempting.
It has kind of phased out and is mostly used by wannabes, lowerclassmen in high school, or middle schoolers. It is now considered a slang faux pas.
14 year old: "That's phat man."
22 year old: "Um, dude, that word got old in the late '90s" lol
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