Alot like "lol"... but cooler. Its for when something is funny but you just arent "laughing out loud". Because lets face it "lol" is overused and getting a bit old.
stupid person: ZOMG.. thats hilarious, LOL
me: STFU OLO is the new LOL.... OLO
by Eoin McAughey April 18, 2006
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A jew nose smilie. The L looks like a giant nose, while the eyes are displayed with the 2 Os.
Jew: I want your money.
Me: I love you oLo.
by sjewirat September 21, 2009
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Someone who is laughing too loud and accidently type OLO; or is a geek named Brad and uses it as a smiley face! Can also be used multiple times to show being stupid on purpose. See lamer
The Archer Ian: Hi!
Schala Zealz: OLOLOLOLOLOLO

The Archer Ian: Hey Brad did you see that really funny movie where this guy farted?
Kefka505: oLo;; Nope...

The Archer Ian: I farted on my cat who's allergic to farts!
UnusualGamer: OLOLOLOLOLOLOLOLO ^^!!! XDXDXD
by Ian March 25, 2004
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longest of ancient hawaiian wood surfboards, usually koa wood, ridden by alii.
Bra, dat olo board is one heavy sucka
by dan kraft August 9, 2003
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"One last one" used to define that last drink (or whatever) your friends talk you into at the end of a party when you know you shouldn't. Usually used repeatedly during the same occasion. Chronic offenders granted membership in "the OLO Club".
"I guess I could stay for an olo"
by audreyfarber December 11, 2006
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