They are actually two words, although in Argentina they are used a lot together as a way to get the attention of someone with whom there is enough trust. See che (expression to address someone), boludo (middle name of all Argentines), boludo in Argentina.
It is a way to attract the attention of a person to whom you have confidence (friend, relative) used in Argentina, it can be used as "Hey wey" in other countries.
See: http: //www. meaning. org/idiot in argentina. htm
1 it is an expression of the Argentinian lunfardo and that means stupid, stupid, stupid. 2 is the name of a restaurant in the city of Barranquilla, Colombia, specializing in Argentinean cuisine, hence its name.