If you have an IQ of 127 and your 16 years old what does that mean?

It means that for you, more than most of your classmates, it's going to be important to keep your nose to the grindstone and work hard. This is because some people who tend to be brighter (but not necessarily the brightest by any means) can start feeling entitled and superior. There is great danger in that for a person of your age. So, 127 is a good IQ measure, but you can easily let it trip you up. Forget it, and work. Genuine intelligence and wisdom have to do with how you use your mind-- not how others artifically measure it.