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1.
(n)Someone or something who/that is really cool to a level where a small curse word is needed. Deriving from "Bad Ass" "Kick Ass" etc. etc.

(n) Mindy
That guy is a cool ass.

That guy is a cool ass kid.

That wall of pop-tarts is cool ass.
by The Zeke May 03, 2006
34 10
 
2.
instead of a dumbass, someone can be a coolass...which is just one really cool person
Vince is one hell of a coolass
by Katie December 14, 2003
4 1
 
3.
The opposite of loserbutt. A compliment better than "cool" but not as good as "fucking awesome"
Andy Samberg: Blake, why are you crying?

Blake: -sniffle- Because I wish I were as coolass as Hannah and Kiley.
by thechosenones June 11, 2010
5 4