look up any word, like ratchet:
 
1.
you can refer to almost any drug as "boo-lay" but usually cocaine
Buy me some boo-lay
by Melvin_flynt_da hustla November 13, 2003
 
2.
Derived from the word bootleg; used to describe something that is cheap, bootleg, generic, fake or just plain dumb.
Walgreens brand of stuff is boolay.
by TPC Chinki February 08, 2011