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2.
Swedish slang meaning to touch something (e.g., a surface, family member, or coworker) with the tip of your penis. Bonus points for leaving a visible impression.

The female form is "snigla".
After my girlfriend broke up with me I proceeded to olla her toothbrush and all her groceries.
by Herr Deg September 30, 2011
 
1.
To touch something with your penis in order to contaminate it for the future.
"Olla kudden då fy fan vad nasty!"

"What a motherfucker I'm gonna olla his toothbrush for sure"
by Joakim January 28, 2005