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1.
Saying "Crazy" in a positive manner but in a funny way.
Can be said Kalazy, Kalaaaazy, or any other combinations to stress better. It can be said online or offline.
"You're kalazy!"
"You guys are kalaazy!!" kalazy stressed
"Kaaalazy!!" kalazy stressed
by kmko December 19, 2010
 
2.
Cool in a rebel way - such as in 'wicked' or 'bad' elsewhere.
That's wicked kalazy!
by Samgirl December 22, 2010