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Cocolo means a black person that speaks english. It means black person in the same sense that gringo or yankee means white person. It can be a racial slur if the speaker wants it to be (just like gringo) but it is not a spanish word for nigger. It originally referred to blacks that came from english speaking Caribbean Islands and settled in spanish speaking islands.
Todos los cocolos hablan ingles.
cocolo by TWIM May 19, 2006
Coconut Ciroc and Pineapple juice. A drink named after Diddy and Fabolous
We having a CocoLoso night.
CocoLoso by NICE167 September 8, 2010

cocorosie 

best band alive.. makes u feel really indie and alternative listening to it
cocorosie by carcarpeaches October 18, 2010
1) Drink that rapper Fabolous invented which consists of Coconut Ciroc w/ Pineapple juice

How he came up with the name: 'Coco' means coconut in Spanish 'Loso' comes from "Fabuloso", which means Fabulous (or how he rather spell it 'fabolous') in Spanish as well.

Variation: "Cocolo" means black in Dominican Spanish/Slang so my guess is that Fabolous combined both terms "Coco" and "lo + so" to come up with "Cocoloso" in the end, very clever indeed.
COCOLOSO ON DECK!
Cocoloso by Bluetiful October 30, 2011
Used to define a black person. The plural is cocolos.
A fight broke out between the cocolos and the crackers.
cocolo by X May 3, 2003
Using your brain power to solve different problems. Derives from Japanese and Acadian language.
If you want to solve a math problem, you use your cocology (brain power) to come up with the solution.
Cocology by Word imaginary December 10, 2010