1. Someone who really likes hot chocolate, particularly if they are willing to perform sexual favors in exchange for a mug.
2. An amateur or young prostitute (derogatory).
1. Johan: "Who do I have to blow to get a hot chocolate around here?"
Ethan: "God you're such a hocho ho"
2. "And then some skank ass little hocho ho starts gettin' all up on my man, and I was like 'step off girl before you hurt cho'self."