Someone who is from the small town of Ascoli, Italy.
Original word is DiAscoli. 'Di' in Italian translates to 'of' and Ascoli being the town. Thus
DiAscoli meaning 'Of Ascoli'.
When the family of DiAscoli's migrated to the United States they were
forced to Americanize their
name. They dropped the 'i' and added an apostrophe (which was common)