"Right now, I'm as single as a slice of American cheese"

This quote by Nick Cannon is a humorous method of expressing his current relationship status. By comparing himself to a single slice of American cheese, he is indicating that he is presently not in a relationship. This could be translated as him being content with his present circumstance, or maybe he is feeling lonesome and longing for a partner. It could also be a way of expressing his desire to find somebody to share his life with. Whatever the case might be, this quote is a lighthearted way of revealing his present relationship status. It is a pointer that despite the fact that he may be single, he is still content and delighted with his life.