Let's break it down:
* Mi: My
* Guapo: Handsome
* Hombre: Man
* Y: And
* Yo: I
The phrase is often used affectionately by a woman to refer to her partner or someone she finds attractive. It expresses a sense of love, admiration, and possessiveness.
It's important to note that this phrase is generally used in a romantic context and may not be appropriate in other situations.