Damn I wish I could be like Bolly
Of or pertaining to one who is dressed in a glamorous fashion, as if said person is an indian actress or actor.
When referencing a woman, the word has a positive connotation, as Indian actresses are generally considered very beautiful. When attributed to men on the other hand, the word has a deeply negative and offensive connotation, as male Indian actors are considered hairy, oddly shaped, and disposed to poor hygienic standards.
Bolly is a shortening of "Bollywood", referring to the hub of the Indian film industry: Bombay (Mumbai), which is commonly referred to as such. This is an obvious play on the word "Hollywood".
This interpretation is completely unrelated to the British exclamation, short of "Bollocks".
"girl, that man is so bolly its dag nasty. get me a towel"