A drill track, the lyrics see Pop Smoke and Dafi Woo celebrating over the finer things and expressing their love for Dior, among other designer jewelry.

"Iced Out Audemars" was released on the deluxe version of Pop Smoke's posthumous debut studio album Shoot for the Star, Aim for the Moon, as the twenty-fourth track on July 20, 2020.

[8] Jordan Darville of The Fader stated that Pop Smoke and Dafi Woo celebrate "the finer things over a beat that glitters with the exultant panache of dozens of champagne flutes being clinked together".

[11] Lil Wayne pays homage to Pop Smoke after he was shot and killed during a home invasion: "Iced out Audemars/Wait, I told you so / Blacked out all my cars/Rest in peace to Poppy/Here today, we gone tomorrow.

Alex Zidel of HotNewHipHop said that Lil Wayne brings "energy and sharp bars to the match-up" and "delivers a stand-out verse that the late [Pop Smoke] would have been proud of".