Here are some possibilities:
* "It's by": This is a common phrase used to indicate something is created or made by someone. For example, "The painting is by Leonardo da Vinci."
* "It's by..." followed by a location: This phrase is used to indicate something is located in a specific place. For example, "The store is by the park."
* "It's by..." followed by a time: This phrase is used to indicate something happens at a specific time. For example, "The meeting is by 3 pm."
If you could provide some context or an example sentence where you heard "it by," I might be able to give you a more accurate answer.