Green’s Dictionary of Slang

pimp adj.

[pimp n. (1); the enviable status of the pimp in black street culture; ‘this one little syllable represents a job, a mindset, a way of life, a way of walking, a way of talking, a way of dressing, a pejorative, and a high compliment’ (Touré, The Portable Promised Land, 2002)]
(US black)

1. stylish, expensive.

[US]R. Abrahams Deep Down In The Jungle 144: Deep down in the jungle in the coconut grove / Lived a little pimp monkey, you could tell by the clothes he wore.
[US]R.D. Abrahams Positively Black 92: [I]n ghetto-Negro parlance, ‘pimp’ is a laudatory term.* [...] [fn:] ‘Pimp’ as an adjective commonly means ‘sharp’ or ‘beautiful’ .
[US]W. Diehl Hooligans (2003) 50: He’s black, a dandy, but not pimp-dandy, know what I mean? Sports jacket, shirt and tie.
Online Sl. Dict. 🌐 kicks n 1. shoes. (“Man Loid, those are some pimp kicks!”).
[US](con. 1964–8) J. Ellroy Cold Six Thousand 155: Check his pimp threads. Check his hair net.
[US]Mad mag. Aug. 50: This show is all about taking a bucket and making it pimp.

2. (also the pimp, the pimpiest, pimpalicious) the best, the ultimate.

[US]J.L. Dillard Lex. Black Eng. 89: Pimp is also a term of praise or flattery [...] being a high-status activity because of the pimp’s income and his control of women.
[US]Eble Campus Sl. Nov. 5: the pimpiest – the best: ‘Got an ‘A.’ I’m the pimpiest.’.
[US] Hip-Hop Connection Dec. 10: This nigga is saying the pimp shit.
[US]‘Touré’ Portable Promised Land (ms.) 58: Pimp [...] adjective ‘I’m just so pimpalicious!’.
[US]M. Lacher On the Bro’d 42: Rob Riggins [...] was for sure the pimpest son [of five].