Khokhol is a slur used to describe Ukrainians in a derogatory way. Comes from a traditional Ukranian Cossak haircut, where all head was shaved, except the cock in front of the head.
The word Khokhol is a racial slur that has been used historically to degrade and dehumanize ukrainians. The word is still used by some people for this purpose, and it is seen as offensive and hurtful to ukrainians. If you are unsure about whether or not it is appropriate to use the word Khokhol, it is best to err on the side of caution and avoid using it in any situation.