2 definitions by Pedro M..

It's typed when someone thinks that s/he can be funny, and since you press shift and 1 when you want to make a ! symbol, if you forget to press the shift, a nice 1 will appear. But there's no point in typing the whole "one" word, however.

A very innocent contraction of the world fool. But you know, some people type foo', what doesn't change the meaning of foo. Or fool. Whatever.