It means, "That's the life."
La vida es tuya literally means life is yours. It is generally used to mean "It's your life to live."
This is the life!
What is life?
"life is short."
Life is precious.
La vida es buena :) Or Es una buena vida
"La vida es así" is "Life is like that" Pretty much meaning that life is unfair.
La Vida es Bella
La Vida es Bella was created in 2000.
La Vida es un tango was created in 1939.
La Vida... Es Un Ratico was created in 2006.
The Spanish phrase for "C'est la vie" is "Así es la vida."