Something that one think ones wants but that one ends up quietly regretting ever having considered in the first place.
This slang came from a couple of friends (who were roommates) of mine, one of whom decided during a trip to the supermarket that he just had to buy that enticing package of olive loaf from the meat department. The olive loaf sat in the fridge for weeks unopened before the other friend demanded that it be thrown out. At that point the name of the meat became synonymous with something that a person momentarily and mistakenly desires. It could be, for instance, used to describe a physically attractive but otherwise obnoxious or troubled person, as in "She's hot-looking but she's still olive loaf."
by The I Shing December 11, 2003
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A football term to describe an offensive lineman who has all the right ingredients to be a stud, but is a terrible player.
At 6'8", 325lbs, Parker should be dominating at tackle, but he's a total olive loaf!
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by SteelCityMafia November 25, 2017
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