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lollywater

American  
[lol-ee-waw-ter, -wot-er] / ˈlɒl iˌwɔ tər, -ˌwɒt ər /

noun

Australian Slang.
  1. a sweet soft drink, especially one brightly colored.


Etymology

Origin of lollywater

First recorded in 1945–50; lolly + water