It's used to express acceptance of a situation, often when it's something you can't control or change. It implies a sense of resignation and understanding that things are the way they are, and you must accept them.
Here are some examples of how it might be used:
* "The weather is awful, but es iz vos es iz." (Accepting that the weather is bad and there's nothing to be done about it.)
* "I tried my best, but I didn't get the job. Es iz vos es iz." (Accepting the outcome even though it's disappointing.)
* "My car broke down, but es iz vos es iz. I'll get it fixed eventually." (Accepting the inconvenience and moving on.)
The phrase conveys a sense of calmness and philosophical acceptance in the face of challenges or disappointments.