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1.
A heavyset woman, typically used for one nite stands or booty calls.
It's almost closing time, I better find me a cholly.
by Jon Rose April 28, 2006
 
2.
1. To bail out of something at the last minute

2. To break a contract or lie about a previously made agreement, verbal or written

4. To choose your girlfriend over hanging out with your buddies
He didn't show up again! That's 2 weeks in a row he's pulled a cholly!

Charlie: Hey uhh I'll met you up at 7 pm at the St. Johns cool?

You: yeah sure NP

-7pm-
you: ....

-8pm-
you: .....

-9pm-
you: texting... Dude where the hell are you!?

Charlie: Oh uhh yeah i cant make it. Me and my girl are going shopping.

you: Damn cholly... you flaking asshole
by Madame Dick Hertz April 19, 2011
 
3.
The Sphincter Licker. One who licks the sphincter for pleasureable purposes. It can also be used as an insult to someone you dislike. I mean, who wants to be called a Sphincter licker? A term made up byy two pretty awesome girls looking for a new insult.
"Ugh, Jack is such a smelly disgusting cholly."
by MissCholly January 18, 2010