One who looks or stares; a gawker; a nosy or overly inquisitive person.
After the accident, I had to shoo away a bunch of looky-loos.
A look at something; a glance; an opportunity to look around.
As I walked by, I couldn't help but take a looky-loo.
A person who comes into a store and looks around but doesn't buy anything.
I was busy all day, but barely made any commissions because I spent all my time with a couple looky-loos.