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The term created by a young teen, living in Wesley Chapel, FL, came up with this saying on a weekend. It can be used in many ways to mean many different things.
Example 1: "Fancy getting a bit ooolright on Sunday?"

"Nah mate, Sunday is my recovery lane day."


Example 2: "oiiiii mate, that chick is a bit ooolright don't you think.?"

"yeh she is pretty Ooolright! fancy nailing it?"

by Mr Ooolright February 05, 2010
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