Yolo means: You Only Live Once. It has officially been recognized by the Oxford English dictionary. Some other acronyms and abbreviations were added. Butt-fu**er was added???? Whaaaat?
The highlights of the additions are: Yoda-like, moobs. freemium, gender-fluid, scrumdiddlyumptious, shopaholism, vom, fuhgeddaboudit, and ‘Merica.
There’s some strange and hilarious ones on that list too..
Check it out on the Oxford English Dictionary page.