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
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