1.) A way of saying 'Home Boy', but with an added flair designed especially for caucasian (white) people.
2.) A way for African American (black) people to humiliate an ex-homie; used as an insult.
1.) Yo, Home Bloy, we headin' down to Hooters. You game?
2.) Yo, tackle that Home Bloy. He just stuck me in the nuts and took my wallet.