Short for "culiao" in chilean slang, literally meaning fucked.
"Ese sapo qlo me tiene pal pico"
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Used by your mates when in the pub drinking (usually too much)and you want to go. Your mate will say he's ordered a QLO (Quick Last One), which you have to drink. It is then considered bad etiquette not to return the favour when your mate tries to leave.
You can't go yet, i've just ordered a QLO
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Alternative way of referring to Japanese Clothing Retailer, Unique Clothing Corporation, otherwise known as 'UniQlo'.
Person 1: Cool jacket! Where is it from?
Person 2: Got it from the 'Qlo.