A)A nickname. Usually for a girl. Shortened versions of Lauren, Deloris, Chloe, and many other names.
B)The best girlfriend in the world.
C) An extremely hot chick with a beautiful smile and an adorable laugh.
A) "Hey Chloe."
"Actually I go by Lolo"
B) "Your new gf seems nice."
"My girlfriend is a total Lolo"
C. "Check out that Lolo"
"Oh, I'd hit that."