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1.
A person who teases or annoy you in a cute or friendly way.

You like the person, but still the person does or acts in a way, that confuses you or makes you uneasy - but still you know the person wishes you all the best.
If you are on the way to the bathroom, and your friends cuts you out and gets there before you on purpose just to annoy you.
"You ballude!" or "You're such a ballude."
And then you laugh and wait till it's your turn.

You can ballude back by being very annoying in a cute way.

A good example of that is to sing "ballude" all the time at a melody of your choice.
by Paxdax October 28, 2010