2) If you don't know what a jib is you get promoted (see example 2)
3) A form of punishment (see example 3)
2. Person A - "I like the cut of your jib"
Person B - "What's a jib?"
Person A - "Haha, promote that man!"
3. "WTF??! Drop and give me 50 jibs!"
"I saw this girl on TV who had her jibs cut down. She was really, really pretty but I can totally understand why she wanted them chopped, you saw everything"