Possibly the most overused wank-stain of a saying in the English language currently in use. They use it for anything: 'petrol has gone up'.....it is what it is. 'you can't post pictures of Gail Platt's tits'......it is what it is. 'there are shit loads of street beggars in Piccadilly Gardens'...it is what it is. 'can't be arsed giving away for fucking ambulances'......it is what it is. It means fuck all, in fact it's just a celebration of pig ignorance. If you know fuck all, you can get through life by just saying 'it is what it is'. Anyone who uses this in general conversation is a ****.