Yay-Yo Share definition Flag Slang for Cocaine, commonly used by Hispanic people. Was popular in the 1980's. Me and my spic friend Manuel used to snort Yay-Yo in Miami in 1985. Yay-Yo by Phillip Quentin Borgamann III, Esquire November 24, 2003 0 0 Get merch Get the Yay-Yo mug. Buy Now — $32.95 See more merch