a large annoying person who is entertaining, yet tiresome. you get more entertainment out of making fun of them than their actual presence. however, always loyal, especially to females. rather sassy.
person 1: ah does he have to come to my party?!
person 2: yes, he does. he is bringing beer and we can fuck around with him when he gets drunk.
person 1: yeah man! he is such an izmo muahahahaha!
Rolls of fat on parts of the body where you're not sure where the fat ends and the real skin begins, for example, the bottommost "chin" on a triple-chinned person, the extra bits of fat that grow over the more solid fat under the arm, the tags of fat left over on the belly in misguided attempts to lose weight, etc. Neutral word, neither affectionate nor derogatory.
If you see that lady from the side, you don't really see a third chin. But if you look at her in a front view, her izmos are right there in your face!