an up-and-coming slang word. soon to go global. meaning "gay". it is fun to say and also less offensive to parents and 'gay or homosexual' people.
girl: omg! look at this new bracelet my boyfriend made for me
guy: wow, that kid must be ultra-homo.
guy #1: dude i just got the new zombie videogame.
guy #2: wow bro, thats ultra-homo, but i kinda like it.