Generally a breakfast dish made up of eggs and cheese, onions, etc.
However, a common word used everyday in the Ebonics world. Rappers, Rap Stars, Blacks, etc.
Steve: "Hey Jammal, can you use the word omellete in a sentence?"
Jammal: "Sho...I shoulda pop 'yo ass fo what you jus did, but omellete dis one slide..."