Variation of yo for those obsessed with Shakespeare or being saucy wenches.

A mix of the word 'yo' and archaic (old fashioned) language to create a really cool new word. I personally use it in a sarcastic way to joke about chavs and their silly little phrases.

Also it's suggesting the word yo is outdated, by making it sound even older, but in an ironic way as it's a new word. =]