Ol' is old. Apparently it emphasises on "good" implying the adverb "very", thus it refers to a lot of rain. Good ol' can also precede other nouns: girls, days, cloud, ...
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LanguageLoverOl' is old. Apparently it emphasises on "good" implying the adverb "very", thus it refers to a lot of rain. Good ol' can also precede other nouns: girls, days, cloud, ...Proper nouns, as well. "We can always rely on good ol' Jack to provide the entertainment."
Hope it helps.