It is a parody of the real chips brand called Lay's and bears a similar logo. Both also come in unusual flavours.
- "Phat" is an obvious play on the word "fat", a possible reference to the amount of fat these chips may have.
- Malc's jacket has got a Phat Chips stamp.
- Little Jacob is seen eating a bag of Phat Chips in the beginning of a mission.
- Franklin Clinton is also eating a bag of chips as the player switch characters with him. This happens only after he acquired his mansion safehouse.
- Franklin will comment on this in multiple different ways, such as "Man, snacking and I ain't even high", "I need some damn health food in this house" and "Man, that's like six burpee's right there". This may be a reference to the lack of edible food to restore health.