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1.
1. Very large: Unusually or impressively large or huge.

2. Very great or impressive.
1. A colossal high-rise office building.
2. Those idiots made a colossal blunder.
by Jafje April 10, 2007
 
2.
a really big cock
His colossal dick gets him all the ladies.
by NA$HA July 20, 2010
 
3.
Used to describe a series of calamitous events that occur over a short period of time, that are either intrinsically linked, completely random, or fall somewhere in the middle.
Joey: Dude you won't believe what has just fuckin' happened to me over the last week!

Bret: What?

Joey: Well on Monday I got fuckin' burgled by pikey's. On Wednesday I wrote my car off. On Saturday my missus split with me cos I go no fuckin' money or car anymore. Then to top it off this morning I slipped up fell in some fuckin' douche!

Bret: Fuck man! Thats fuckin' colossal!
by Steeman February 13, 2006