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Recognition of something's awesomeness or coolness. Can also be an express of agreement, recognition.

Never capitalized, that would be uncool.
Alice: I got an A+.
Bob: coolata!
coolata by yusufm February 1, 2005

Double Glazed Coolata 

The process of jerking off into an old sock, letting the seman dry to get that nice glazed feeling, and re-inserting your dick into the old gym sock while sticking ice cubes up your ass to help you get off. For extra topping, don't forget to stick your finger in that melted down brown ass water on your bed and give it a sniff.
"John, your looking a little sluggish today, what's wrong?

"I just havn't had my Double Glazed Coolata yet, that always wakes me up!"

Penis Coolata

A beautiful drink made of sperm and served in a salt rimmed glass. Always tasty
I saw michaela drinking a Penis Coolata and licking her lips.

Penis Coolata

A drink made of sperm and some sort of alcoholic beverage that you drink at parties :)
I saw your mom drinking a Penis Coolata your dad made for her.

Coopatas 

A pealed grape
A pealed grape is called coopatas
Coopatas by W B. C December 28, 2019

coolatsa coolini

Go wipe your coolatsa coolini!
coolatsa coolini by Gene1000 March 28, 2022