Colloquial / slang
A ‘colloquy’ is simply a formal word for ‘conversation’, so colloquial language refers to the everyday language or register we adopt when chatting to friends, for example, e.g. ‘Hello Fred, how’s the new mother-in-law these days?’.
Slang is a particularly informal kind of colloquial language used by certain social groups in particular contexts, e.g. ‘Ayup Fred! How’s the new battle-axe then?’; ‘Hey that’s some cool dude over there!’