See coolio. It's meaning is the same of coolio, but this one is usually only used when something is EXTRA cool.
"Man, that lion just ate a LLAMA! Coolioolio yo!"
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Uber-cool, the pinnacle of coolness, with a hint of street.
Or
A very long way of saying "yes".
"Will Ferrell sure is coolioolio, yo!"
or
"Wanna get some frozen yoghurt or maybe a whole meal of food?"
"Coolioolio yo!"
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