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1.
Commonly misquoted reference to the Highlander movies and TV series. The actual line is "There can BE ONLY one."
Wrong: "There can ONLY BE one" Highlander?
Right: "There can BE ONLY one" Highlander!
by Shady Logic February 15, 2009
72 11
 
2.
A commonplace quote from character Duncan McCloud in the TV series The Highlander which preceded the decapitation of his adversary by use of a sword.
McCloud: "there can only be one"
Nemesis: "No"

McCloud proceeds with a seemingly perfunctory decapitation
by Daniel McCloud January 30, 2007
18 5
 
3.
Reference to the Highlander movie and telvision series, where a race of Immortals try to behead each other in single combat for a mystical "prize". Used as a battlecry.
red_mc to red_mc1: I was playing as a red master chief first, "there can only be one" .
by chelydra June 28, 2007
66 56