Justin,
CHEERS phrase. 1. Good bye. 2. A typical English drinking toast. 3. Thanks.
You may also hear CHEERIO used as "Good bye". WHAT CHEER (pronounced whatcha) is sometimes used as a greeting. This originates in the phrase "WHAT CHEER are you in?" New Zealanders say HOORAY instead of CHEERS.
Got this from a site called "United Kingom English for the American Novice"
http://www.hps.com/~tpg/ukdict/index.php?file=ukdict-3
Thought you'd get a kick out of this
