So what is it? Although nobody knows for sure, there are two stories that have been told. The first story recalls how the inventor, George Whitney, yelled it when he tasted the oatmeal cookie, vanilla ice cream and chocolate combination. The second story goes back to the old cow races that were held near Playland-at-the-Beach. One day, a cow named "It" won the race. Someone asked who came first, and the answer was it. George Whitney liked that.
Congrats to Psychoticjester for the FTF. I grew up eating this local San Franciscan treat.
CLUE: Stay away from any area/thing that looks like it's private property. You can literally park directly in front of the cache.
CLUE 2: Look for 2 of these. It's the one on the left.