Might even kill somebody and YouTube it
Kanye is most likely referring to the murder of Derrion Albert in south side Chicago back in 2009. Derrion was caught on tape being beat to death by a group of individuals. .
A similar situation (although not resulting in death) happened in the Chi-Town again in early 2012. A group of teenagers beat up a fellow student and filmed the video themselves (which is why their dumb asses were caught). .
More along the lines of this song, this line could be in reference to the pseudonym commonly stated in the hip hop community “Fashion Killer” as a contextually appropriate progression to his previous bars. He has several youtube videos of his fashion shows and him wearing certain accoutrement that could be deemed “Killing it” meaning dressing well. Killing somebody could be a reference to Dressing better than someone as he portrays the type that is well versed in fashion and thats in it self, is a major part of being a hip hop artist.
To help improve the meaning of these lyrics, visit "Cold" by Kanye West (Ft. DJ Khaled) Lyrics and leave a comment on the lyrics box