phat

1 [fat]
noun
Typesetting. fat ( def 23 ).

Origin:
by respelling

Dictionary.com Unabridged

phat

2
adjective
Slang. great; wonderful; terrific.

Origin:
1960–65, Americanism; respelling of fat

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
phat (fæt)
 
adj
slang terrific; superb
 
[C20: from Black slang, a corruption of fat]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

phat
hip-hop slang, "great, excellent," 1992, originating perhaps in the late 1980s and meaning at first "sexiness in a woman." The word itself is presumably a variant of fat (q.v.) in one of its slang senses, with the kind of off-beat spelling preferred in street slang (cf. boyz).
The spelling is attested as far back as 1678, as an erroneous form of fat (a classical over-correction; see '-ph-). This spelling is said by some to be an acronym, but various versions are given: "pretty hot and tasty," or "pretty hips and thighs" among them. These, too may have been innovations given as explanations to women who felt insulted by the word.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Or maybe an open flannel shirt, baggy jeans and some phat sneakers.
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