Coolio Iglesias
Hybrid of Cool + Julio Iglesias.

You say "Coolio Iglesias" when you're feeling cheeky.

Salutes the delightfully cheeseball singer Julio Iglesias, who happens to be Enrique Iglesias' father.

It's like saying 'that's so cool/sexy/fly/bangin, it's got Julio Iglesias status'.
Example 1:

"Ima be at your place at 8 - bottle of Jim Beam in tow."

"Coolio Iglesias"

Example 2:

Your girlfriend/boyfriend comes out of fitting room in aqua lamé tankini...

You: "Coolio Iglesias"