What did this guy mean when he said ‘go for it’?

Anonymous
I accidentally dropped my phone and it went underneath a guy’s seat at school today. He’s in grade 12 and I’m in grade 11 and he handed it back to me, I said sorry thank you and then his friend next to him was say stuff like ‘oooo go for it, go for it’ and like punching his arm as a joking kind of way and his other friend was laughing and the guy who handed it to me was just looking away laughing. What does this mean?
What did this guy mean when he said ‘go for it’?
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