Ole Lady refers to a woman whom your relationship status lies somewhere between girlfriend and wife. It projects commitment and still rolls off the tongue better than "That's my girlfriend."
Buddy: "Dang Dale! Who's that you've got hanging on your arm there?"
Dale: "Oh man, you haven't met my ole lady yet now have ya?"
The smell a woman gets when she stops showering for weeks at a time and her perfume no longer works to cover up that unkempt bo. It eventually creeps down south and fingers come back smelling almost burnt.
Damn!!!! No joke my wife smells just like my grandma did back in the day. Like sour perfume and armpits with a burnt after stank. Its the ole lady stank.