Good ol' boy is an American slang term that can have both positive and negative meanings, depending on context and usage.[1]
The term can be used for well socialized men who live in rural and generally Southern areas. If a man is humble and well thought of, he can be referred to as a "good old boy", regardless of his age. It is commonly applied to men with a family or generational wealth or prestige, or overall moral behavior.
It can be used as a pejorative term, referring to someone who engages in cronyism among men who have known each other for a long period of time. Collectively these people are referred to using the slang term, old boys' network. This network is usually all men, excluding women and minorities.