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1.
A life style of fun and no worries. Can be used in any context and generally is used as a happy expression.
That was so cool, cu cu ca choo.
by Quag the first September 16, 2013
 
2.
What Bill Cosby says as he's going down the ski slope.

Bill Cosby, "Cucucachoo! I'm going down the ski slope!"
by Captain Penis October 07, 2006