It is a phrase used to describe something unbelievable or astounding. It can also be used when someone is telling a story that sounds exaggerated or too incredible to be true.
Examples
- Spanish: ¿Y te contó que ganó la lotería? ¡No, si siempre tiene unas historias de este color!
- English: And did he tell you he won the lottery? No, if he always has such unbelievable stories!