Ch.O.L.O Share definition Flag It stands for Chu Only Live Once. Basically its the Mexican version of Y.O.L.O. can also be used as a way to show how Mexican you are. Calling something by "dame esa chingadera" instead of its real name.#Ch.O.L.O Ch.O.L.O by MiguelZH63 July 19, 2012 0 0 Get merch Get the Ch.O.L.O mug. Buy Now — $32.95 See more merch