Green’s Dictionary of Slang

what is it? phr.

also what is?
[the usual response is ‘What it was’]

(US black/campus) a greeting.

[US]E. Folb Runnin’ Down Some Lines 2: Hey, baby, what is it?
[US]Eble Campus Sl. Mar. 6: what is – a greeting.
[US]W.D. Myers Scorpions 40: ‘Hey, Jamal, what it is?’ Jamal looked up.
[US]N. McCall Makes Me Wanna Holler (1995) 260: I automatically shifted back to my vernacular: ‘What is it?’.