ULE Meaning of ULE in English nounor hu·le ˈül(ˌ)ā( -s )Etymology: American Spanish ule, hule, from Nahuatl ulli 1. also ule tree : a tree of the genus Castilloa that yields caucho2. : caucho Webster's New International English Dictionary. Новый международный словарь английского языка Webster. 2012