made up word that originally meant nothing but sounded funny. Can refer to the act of a dog or any animal eating poop (i.e. recycled poop, goes in a loop) But a flying poopooloopoo is a toilet wax ring thrown like a frisbee. Pronounced very quickly.
Ewe gross, your dog just did a poopooloopoo
Also uttrered in quick, short burst of a word when bored and over caffienated