Something that link could eat when he is so hungry. Usually used in phrases after the King wonders about dinner, not to be confused with Dodongo's, who are bombable.
Link: "Oh boy! I'm so hungry, I could eat an Octorok!
Someone who is blessed with an exceptionally large penis. Following the common preconception that black men have large penis', this would refer to the penis being the one eighth of a person that is of black ancestry.
If you want to know why we call Blake octaroon, you'll have to ask him to show you.