Combination of two words Rancho (ranch) + Cholo (Homie)
Recently arrived Mexicans from small ranch villages, who arriving to the U.S, over-exaggerate with the cholo outfits: oversize khaki dickies with
long belt, XXL jersey with a 13 or
Los Angeles , and some converse shoes.
This is done because they want to blend in with the local population, not realizing everyone doesn't dress like a gangster. Even the homies laugh at them, sad.