Colitas is spanish slang for cigarrete butts, the part of the cigarrete you throw away. The proper pronunciation would be Colillas. Colitas may also be used as the diminutive for "Cola", which means either butt or tail. Yes, it made for some amusing puns back when coca-cola was introduced here.It is also a drink in the southern states of Mexico, but I do not see how that would make sense. It's hard to smell drinks.