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1.
A young steretypically blonde woman who likes hanging out in Chelsea, primarily on the Kings road in London.

She is generally public school educated and her most popular university choices are either Oxbridge, Bristol or Edinburgh.

In the late 90's this woman would not be seen without her pastel pashmina.

Being called a Sloane ranger indicates that you are of a generally reasonable class level, however, it also indicates a certain vacuousness/air-head like attitude and snobbishness.
Check out the Sloane Rangers in Henry J Beans on the Kings road.
by Fabien Kincade July 27, 2006
 
2.
The term "Sloane Ranger" (often pluralised to just Sloanes) refers to the lifestyle of upper-middle class young women living in West London. It was coined by British author Peter York in his book the Official Sloane Ranger Handbook (co-authored with Ann Barr). The term combines "Sloane Square" (an area of London where these women would typically live or hang out) with "Lone Ranger." The term is now applied to men as well as women. Beware: it can be used as a slur.
The archetypal Sloane Ranger was Lady Diana Spencer before her marriage to Charles, Prince of Wales.
by Cary Granite October 06, 2005