I grew up in Pennsylvania in the 80s and 90s, and we said "bobo" all the time! Mostly to describe those bargain canvas sneakers, that were kindof like Converse. Instead of saying, 'bobo Converse', we just said bobos.
Billy Zane's father is played by Patrick McGoohan--famous for being in the TV show, The Prisoner. He was born in America, to Irish parents, and they moved back to Ireland afterwards. So--his accent is Irish.