It is one of the informal ways of saying goodbye to someone. Apparently, this phrase has been derived from a 50's pop song. The person to whom this phrase is being said, says- 'In a while crocodile!'
This is an old use and still use for this catch phrase to tell someone see you. and the answer for it after while, crocodile, alligator and crocodile were brought for the sake of rhyme.
A silly way of saying “goodbye,” when you or someone else is leaving. It commands a response... “After while, crocodile.”
Originating in the 1950s, the correct response to “See you later, alligator!” is “After while, crocodile!” It is NOT “In a while, crocodile,” or even “After a while, crocodile.” As with most phrases and expressions, accuracy often gets lost through the years, like a giant game of telephone, so nowadays you will hear it said all three ways, but there is an original, correct way. “AFTER WHILE, crocodile!” :)
Bob: “See you later, alligator!”
Jane: “After while, crocodile!”
By Jobie
See You Later Sandwiches
The cheap and dirty snacks flogged onto the bereaved for lunch on the day of a layoff round at a company. These sandwiches are usually dry, save for the tears shed by dismissed employees, and flavourless dreck one chokes down between sobs while thinking of supporting 3 kids and a wife who needs another $500 purse.
They are typically passed out by a smug and rotund PA who thinks that since the executive she cowtows before still needs his shoes shined, that he/she will remain employed.
"After you've collected your things you can headupstairs for some See you later sandwiches"
By Shel
See You Later, Innovator
A part in the song Brianstorm which you don't want shouted in your ear, waking you up at 1am when you've fallen asleep to your Arctic Monkeys playlist.
Alex Turner: And we can't take our eyes off the T-Shirt and tie combination. So, See You Later, Innovator
A greeting to a friend who is leaving a party or social gathering when it's the first time you've seen them all night, even though you've both been at the same party the whole time.