Coolioolio, Yo Edit Meaning

1.

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!"

See cool, excellent, wicked, brilliant, yes!