A combination of the Yiddish phrase "Oy vey" and the American phrase "What the Hell", Oiva Heli is usually yelled as a call and response at parties and gatherings to toast before taking a drink or shouted by different groups of people at public places like beaches and theme parks as a sign of excitement.
Valerie raised her bottle of beer and yelled "Oiva Heli!" to which everyone in the room raised their glasses and yelled back "Oiva Heli!" then took a drink.
by Atrain8012 May 02, 2011

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