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1.
(Ital.) Those chewy little white bits found in salami-type products.

Definition origination: Observation of my young son opening his cotto-salami sandwich to remove the little white bits prior to eating.
Steve, stop picking out the cotto's!!!
by Steve'sDad July 08, 2011
 
2.
cow anus. Marketed by Dominos Pizza as a food substitute.
Hey man, this pizza's got some sweet shredded cotto!
by Steve AKL August 05, 2007