I drive up and down Harlem blocks,
Iced out watch

from Big L (Ft. Fat Joe) – The Enemy Lyrics on Rap Genius

Big L is driving up and down Harlems streets with a good looking expensive watch, possibly encrusted with diamonds or other jewels. Ice/iced means that something looks good, in can mean diffrent things depending on the correlation.

Definitely a President rolly ^

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