Meaning 1:
A gutteral laugh such like used by Santa Claus.
Meaning 2:
A shortening of the word
hoe - a farm implement.
Meaning 3:
A mispronunciation of the word
whore originating with Negroid Americans and quickly spreading worldwide through widespread use in US television and cinema.
1. Ho Ho Ho Merry Christmas
2. Help me hoe the field.
3. Either that poor guy has a speech impediment and can't pronounce "whore" or he thinks his mother is a farm implement.