The phrase is often used informally among friends, especially as a playful justification for keeping something found. Hey, I found a $10 bill on our walk. Finders keepers!
Pro Tip 2/3
Children's Games
Commonly heard in schoolyards and during children's games to claim found items. I found the last piece of candy hidden under the table, finders keepers!
Pro Tip 3/3
Ownership Challenge
Can be contested if the original owner comes forward; it's not a legal rule. She tried to claim finders keepers on my lost watch, but I proved it was mine.