The term 'CHECK THAT OUT!' can be broken down into four separate words: OOH (3 letters), WHOA (4 letters), LOOK (4 letters), and OHLOOK (6 letters). OOH is an expression of surprise or admiration, while WHOA is an exclamation used to express amazement or caution. LOOK is a verb meaning to direct one's gaze in a particular direction, and OHLOOK is an interjection used to draw attention to something. Together, these words form an expression of surprise and admiration, suggesting that the speaker has seen something unexpected and remarkable.