a kid who would do a lot of crazy shit. i.e. ride a bike in a lake for five dollars but wouldn't get the five dollars because everyone would just laugh as soon as he fell in the water. Also, a kid who would carry a briefcase and/or smoke a lot of weed and do various crazy things.
Jon: Did you hear what krazy kid did yesterday?

Dan: No, what happened?

Jon: We caught him skipping school and smoking weed in our neighbors shed.

Dan: Hahaha that's so crazy!
by Barack Obama's new dog February 7, 2009
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(n). An undercover name for the KKK.
Those Krazy Kool Kids put a cross in my yard last night
by SoulFood October 6, 2010
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