New Orleans a-hole, Frio, Fuego
In case you have never heard a song by Lil Wayne, he is in fact from New Orleans. And many consider him to be an asshole. Frio is marijuana laced with PCP, and Fuego is the Spanish word for fire. Wayne might be referring to the fiery sensation he gets when smoking Frio (as is common with that drug), or he may just be rambling
Frio is also spanish for Cold, so he’s also saying, I’m COLD, I’m FIRE, which are both slang for being a great rapper.
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