An abbreviation for "Frozen Ho's," or "Frozen Whores," that is a play on Fro Yo. These are the girls you see attempting to run around campus in heels that are too high and tube dresses that are too short. They are usually trying to get to sorority events before they freeze to death, because a jacket doesn't go with those bursting bosoms.
Person A: Hey it started snowing!
Person B: Uh oh, I hope the fro hos are going to be alright out there...
Frozen hot chocolate.
"HEY! Let's go to the mall and get fro hos!"
"I want a fro ho."