This is a (very) slang term for "goodbye."

It's a common slang term for "goodbye." Such as someone is leaving another, they will say "peace out" while they're leaving. Some will shorten it even more and just say "peace" & leave.

Goodbye, see you later. Another example is "see you later alligator"

It is goodbye,,,,Black English!! Black American use it,,,,,,,,Black English is very different,,,,ex: She is perfect.....Black people will say: She is all that.

Peace abroad