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Halleloo is a shortened version of hallelujah, an interjection used to convey joy and excitement.

The word was coined by drag queen Shangela, a contestant on RuPaul's Drag Race. The show airs on Logo and is basically America's Next Top Drag Queen.
Halleloo! The judge finally got Tyrone to pay child support.
by NkMlZ April 16, 2011