A hardcore cholo will wear the baggy look, bigtime tatoos, and a shaved head. The chola might have long permed black hair, dark lipstick and a teardrop tatooed under her eye, (and their toddler might have a shaved head and wear the garb unless abuelita steps in.)
This look is subject to change as gang-culture evolves. So what a cholo looked like in the times of Cheech and Chong is out-of-date, but still revered with some pride. There are even plastic figurines with this look sold in gumball machines all over the streets of L.A.
The word has a totally different context in South America, where it means indigenous peasant. But in the States, it has been appropriated and the context has evolved.