Urban Dictionary is wack!
M'Kay - just another way to say okay. I liked this because I feel people, mainly my friends, used to say this all the time. But now I believe it has been relpaced with the letter "k." Especially with texting and AIM.
P-Town - relating to any town that starts with the letter "P." I thought this was interesting cause the first thing I thought of was Pittsburgh. And the link I found was of a shirt that says I LOVE P-TOWN. Wierd!
w-hibbely bibbely - when someone tells a lie to make someone else happy. First of all I have never heard this before in my life and I can't believe I found other people using it on their blogs for another site.