Stands for, "We Only Live Once." It's a phrase used to remind a friend or passerby that their choice NOT to do something awesome is a bad one. It can also be used to remind a friend or passerby that their choice TO do something is a good one.
Mikey: "Dude, I just don't think I can make it to the Playboy Mansion Party with you. My girlfriend will kill me."
Nick: "Why not man? WOLO (Wo-Lo)!"
Mikey: "Excellent point. I'll go!
Mikey: "I am so pumped we're going bungy jumping today. This is crazy!"
Nick: "Well... WO-LO"
adj. A phrase used to describe something that is so uniquely and completely amazing that by simply mentioning this phrase, others should stop in their tracks to take notice of the situation unfolding around them. Generally you would use this phrase to describe something a swude did or said.
Guy 1: "Last night at the party my girlfriend's sister asked me to have a threesome with she and her hot friend. I did."
adj. Stands for "Tight Tight Real Tight." This is another way of describing what someone did as really awesome. It's considered the less intense version of its counterpart phrase, sicky sicky nar nar. TTRT can be used in text messaging as a simple way of reminding the recipient of the text, that what they just told you is truly worthy of a high five.
Guy 1: "I just got promoted today at work and my new boss... she's a 10."