Ice Cold Fatty Share definition Flag A large balloon filled with nitrous oxide often sold in concert parking lots or festivals.A whippet. Nitrous Mafia: Who wants an Ice Cold Fatty? $5 Each or 5 for $20. Ice Cold Fatty by Psychedelic Andy June 2, 2009 0 0 Get merch Get the Ice Cold Fatty mug. Buy Now — $32.95 See more merch