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1.
Giving someone the finger. The four o's represent a finger and one of them is raised.

The same as _-__
Jerk: Hi Jack!
Jack: oOoo
Jerk: What?
Jack: _-__
by Jens Peter January 10, 2004
 
2.
Burmese slang for genitalia.
Damn, your oo oo smells fishy today.
by SumYungGuy October 14, 2007