"I only had five bucks, so I bought the el cheapo headphones."
2.NounA mock-honorific title given to a particular person who is stingy.
"Don't expect a big tip from El Cheapo over there."
3.NounA person who is stingy; a miser.
"He's such an el cheapo that his wallet hasn't been opened for days."
4.NounOn the game show The Price Is Right, used in reference to the lowest two-digit number on a board of (initially) nine numbers in the pricing game Money Game.