Latin for a really hot chick who is usually short. Similar to Lola or Lolita but much hotter. She tends to be very smart (super geek kind of smart), loves everything from punk rock to opera, well spoken, well read, and has sexy tattoos. All contained in a travel sized, smokin' body. Loligos tend to date band boys, but only real band boys, not some loser who "really rips it on Rock Band!"
She's totally out of your league, so just admire her from across the mosh pit because she's banging the drummer on his tour bus after the show.
Guy #1: Dude! Look at that hottie over by the front of the stage!
Guy #2: Oh, yeah, I saw her earlier talking to the band.
Guy #1: Really?
Guy #2: Yeah, she was quoting Carl Jung. I didn't get it but it sounded hot!
Guy #1: I bet she's banging the drummer. Lucky bastard.
Guy #2: She's totally a Loligo. He's so lucky.