You're the Cat's Meow

This was current about eighty years ago. Comment by: Don    Rated:2/5

That recently? Comment by: Jenn   

I've always heard this one as: "You're the cat's ass". or "That would be the cat's ass". People still use it in this form, though not many. Comment by: That guy   

Also, I'm not sure it simply means 'great', but rather means 'the best'... as if you are saying: "There could be nothing better". That's the cat's ass! Comment by: That Guy   

it's equivilent to the bee's knees...old and lame as f*ck Comment by: This guy