Another euphemism for Atlanta, Georgia which is growing as a movie prodution hub. Best said with a 'Gomer Pyle-esque' accent.
You hear they're making another movie about NASCAR?
Yeah, they're shooting it down in Gollywood. There were a bunch of women lined up in tube tops and flip flops waiting to audition.
When a black male smothers shit onto his ball sack and then applies said fecal matter to the subjects face. You then obtain the females menstrual blood (obtained prior) and gently apply around the edges of the subjects mouth. Cocaine plays a vital role, as it is used to give the subject the trademark golly eyes. Just simple sprinkle some powder on your palm and blow it directly into their eyes. Voala, you have just completed a successful gollywogging.