two umlauts(ˈtu ˈumlɑʊts)
n. a Löwenbräu (brand) beer. Calling a beer “two umlauts” is the most contrived bit of slang I have ever heard of.
See also: two
McGraw-Hill's Dictionary of American Slang and Colloquial Expressions Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved.