It means poop, but it is also used as a synonym of dude. Basically, when the word "dude" is enhanced with poop, it becomes "doody".
Hey doody, yes you the one reading this, you are an awesome doody, doody.
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Something that is said after the word Howdy, to show extra love or excitement.
Cowboy: Howdy!

2nd Cowboy: Howdy doody! (Excited to see his best friend.)
by Dummythickdumpy September 26, 2021
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