The Ant's Pants, (along with The Bees Knees) is one of many nonsense rhymes popular with the socialites of the Roaring (Nineteen) Twenties that has stood the test of time, and which are still used in common language today. This version is a 21st Century variation .... with a twist. What does "The Ant's Pants" mean? Really though .... "The Ant's Pants" means... "Just dandy, perfect, really, it's The Ant's Pants", if you may... Those busy ants do like to play.