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1.
A person borned in the city of Bogota, Colombia and most often recognized by his/her accent.
Llame al Rolo. (call rolo)
by Jhonny Perez April 23, 2004
 
2.
A word that can be used interchangeably with the term "penis". However, most people refer to the chocolaty delicious caramel filled candy made by Nestle when speaking of rolo.
Mom: Go help me find the Rolos, they should be in aisle 4.

Daughter:I found the PENIS!

Stranger Who Does Not Understand term of Rolo: *awkwardly walks away
by chinkyboii August 18, 2012
 
3.
Abbrevation for:
Roll
One
Light
One
Stoner 1: Yo let's get high!
Stoner 2: ROLO!
by dblburgerwitcheez June 28, 2012
 
4.
It's a type of chocolate, you moron.
Rolo chocolate cones = the shit.
by maybell1ne July 25, 2006
 
5.
A slang term used to address the "Brother Roland" shoe from Royal Elastics.
Tim: "Man, check out my Rolo's!"

Me: "Those are sick, I want a pair of Rolands."
by Pyrex October 17, 2012
 
6.
Rolo(verb): Roll Out Lights Out
used as either confirmation or statement in which you are ready to leave and turn off the lights
DA: "I'm dong, you dong yet?"
Tom: "Yeah I'm sorry was dropping a deuce..."
DA: "Aight, let's rolo."

or

*Upon exiting
DA: "Rolo!"
by iamdamastermind September 26, 2012
 
7.
In an academic setting with mixed age groups it is a random old lady outburst. Typically drawing upon examples using their kids, grandkids, and other non-relevant things that matter nothing to anyone.
Person 1: How was class today?
Person 2: My lecture was fucking hijacked by a rolo
by boredscholar December 06, 2010