A more hip hop way of saying "etc", or a verbal way of expressing "..." It is said by those that have so much poppin' that they don't have the time or energy to explain what the "what not" is
Ex- "What are you doing tonight?"
"I'm gonna meet some people and what not."
It is a way to encompass many items, thoughts, absolutes that are defined but are too numerous to be listed or the communicator is unsure what they actually are.
Ex- The further report will contain facts, figures of the impending impact of sales and what not.