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1.
A strong urge to kill someone, popularised by Dhanush in his chart-buster 2011 song "Why this kolaveri di"

Kolaveri = Kolai + veri

Kolai means "murder" and veri means "the urge" to do it.
"When I entered school 10 minutes late, I could see the kolaveri on my principal's face"
by Unrolled Monk November 18, 2011
 
2.
Meaning: Murderous rage. Kolai: Murder; Veri: Hateful Urge

Etymology: Its a word in South-Indian language Tamil. The word was made popular by the chartbuster song "Why this Kolaveri di?" that has got some 3 million hits on youtube within a week of upload. The word also stays on top of twitter India trends for more than 3 days in a row.
English+Tamil: Why this Kolaveri di?
Translation (English only): Why this murderous rage girl?
by emperoraka November 24, 2011