Green’s Dictionary of Slang

bout it, bout it! excl.

[SE phr. what do you want/are you going to do about it?]
(US juv.)

1. a verbal challenge, deliberately intended to start a fight.

OnLine Dict. of Playground Sl. 🌐 bout-it, bout-it n. fighting words, meaning ready to start a fight.

2. what are you doing?

[US]College Sl. Research Project (Cal. State Poly. Uni., Pomona) 🌐 Bout it, Bout it (phrase) [...] 7. What are you doing.