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1.
noun. A drink of Spanish origin composed of red wine and cola, most frequently in a 1:1 ratio. A sweet wine is preferred over dry, the cheaper the better. For a more swift route to intoxication, a higher concentration of wine should be used. Should be consumed in large quantities in anywhere from a lax to off-the-walls social environment. Highly recommended for use in drinking games.
The 3rd floor of Taylor was playing beer die when the booze ran out, but was saved by the cunning substitution of calimocho. All parties involved got wasted.
by Tom T June 25, 2005
 
2.
It's a Spanish drink: half cola, half red wine. It's good... But in slang it can mean half sober.
I was just feeling calimocho when they all decided to leave! One more glass and I would have been drunk!
by fuckyoubuddy August 17, 2010