An ollie is a basic jump, the basis for most flips or pops. Its where the skater pops down on the tail with there back foot. As the front of the board pops up, the skate moves their foot up the deck, and rises their back foot. So that the board levels out in the air. The legs then push the board back to the ground. YouTube it.
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In the children's game of "hide and seek" (and some other less known games), the call of "olly olly oxen free" signals the hiding team that the positions are being switched, i.e. the hiders come in out of hiding and become the seekers. It is thought to derive from a phrase such as "all ye all ye, outs in free." In the US, you might hear "Olly, Olly in free" since we were coming 'in' and oxen seemed to have nothing to do with Olly, who we thought was a person's first name.