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1.
A great merit or award. A great praise.
Your work should receive such an accolade.
by CGray1387 May 20, 2006
 
2.
That in which one must shout in addition to a gesture of hands raised, upon the knowledge of an audible exchange of an approbation.
Stranger: "You look cute today"

You: "ACCOLADE!"
by The Agressor September 27, 2010
 
3.
a useless pat on the back from your asshole employer
I got accolades in the company newsletter for a job well done instead of a raise.
by spidey_88 May 21, 2010