Rapper Jovan Clayton -- last seen dancing a jig after his arrest on theft charges -- is gonna have to face the music for real --- 'cause he's been charged with 3 FELONIES.

Clayton was hit with 3 counts of receiving stolen property ... in connection with an incident last April at 1Oak nightclub. He's pled not guilty to all 3 charges.

We broke the story ... the "Cat Daddy" rapper was popped for allegedly stealing a phone and the contents of someone's purse inside the club.

After the bust ... Pee Wee busted a move of his own ... giving a little celebratory dance for our photog after his release from jail.