Well, this is a pretty popular expression here in Spain those months... I might say it anytime here, so...

'Ola ke ase' or 'Ole ke ase' is a catchphrase that is a play on the Spanish expression 'Hola Que Hace,' which literally means 'Hi, What are you doing?' While it can be colloquially used as 'Hey, what’s up?' the phrase has been adopted as a Twitter hashtag and an image macro series, similarly to 'Watcha' Think 'Bout ?'

Better said, it's the same thing as when you say 'Wassup ?!' in english :)