Definition

A deliberately cute or childish pronunciation of 'okay,' immortalized by the character Buckwheat from The Little Rascals. Using this today instantly dates you or reveals your exposure to classic film, functioning as a generational shibboleth.

Example Usage

When asked if she wanted ice cream, the toddler enthusiastically replied 'Otay!'

Source: Urban Dictionary (https://www.urbandictionary.com/define.php?term=otay&defid=13827)