Means "that's old shit, asshole".
The "teh" makes the person making the statement feel more 1337.
-Man check out this funny flash video!!!!1
-teh old!
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Slang term for the greatest cheap light beer in the history of the World. Old Milwaukee Light.
Lets pick up some Old Mud for tonight and get wasted.
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An Old Wisconsin is when you take a crap in a sock and beat someone over the head with it.
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Army term referring to the commander of a unit. Usually used for a colonel or general, but can be used for a captain (who would be a company commander). Since most company commanders are still in their 20's in the Army though this isn't a common use.
Its usually a term of respect, but many times just used as to refer to the commander without any judgement of respect or disrespect. NOTE = this term is never used in the presence of the old man / commander.
Soldier 1: I heard someone call the barracks to attention, sup dawg?
Soldier 2: Sarge said go straighten your shit up, looks like the old man stopped in unexpectedly.
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Marijuana, pot, a rolled up doobie
"hey, are you down for a little smoke of the old bombay?"
A grower that smokes you out and/or gives you weed. Usually someone you've known for awhile or became friends through mutuals, a good old pal to have, indeed.
Person: have you tried do-si-do?
Person: ya I got an 'old pal' that gave me some last week!