Short for "oy vey" which is yiddish for "woe is mine" basically meaning "thats bad or oh shit
commonly used by jews :)
ALSO short for oysh, which is short for oh shit
Commonly used by wannabe jews and parents who censor

A perversion of the English language and an established greeting or expression of distaste. This expression is most common in England, of all places. Also the reverse of the popular North American greeting, "Yo!".

I would assume that most British people would also find the expression, "yo!", very strange.