Americans might say that something is the cat's meow and the cat's pajamas.
VOA: special.2009.09.27
It was noted that this has "nothing to do" with the scapegoat-of-the-year (Li-ion cells), but if you (or your offspring) just loves to cuddle with this volatile critter, you should probably ice the situation before it unleashes something a bit more serious than a cat's meow.