It is based on the real-life Hollywood area. It has full emergency services coverage, its own fire department detachment, and the LAPD 12th Precinct is located here.
The gag references the actual "HOLLYWOOD" sign, which originally read "HOLLYWOODLAND," which was the name of a housing development it advertised, before "LAND" was removed by the city of Los Angeles.
The name is a recurring gag in the series, where everyone says Hollywoo, instead of Hollywood after the events of Our A-Story is a "D" Story.
It is also seen in Nice While It Lasted, at Princess Carolyn and Judah's industry wedding, she says "Hollywoob," BoJack gets very confused by it despite having been at the press conference at Griffith Park Observatory with Mr. Peanutbutter.
In the first six episodes before Our A-Story is a "D" Story and before the start of the series, it was referred to as Hollywood.
In Our A-Story is a "D" Story, BoJack wakes up the next morning to hear news of the Hollywood Sign's letter "D" stolen. He quickly discovers he had stolen the "D" the previous night in a drunken stupor, as the "D" is sitting in his pool. Mr. Peanutbutter arrives to confirm his suspicions of BoJack having feelings for Diane by stealing the "D," but offers to help BoJack return the "D" secretly under the condition BoJack stops pursuing Diane romantically. BoJack agrees.
Mr. Peanutbutter and BoJack get wired on a combination of coffee, bailey, and cocaine, and concoct a plan to distract the public while the "D" is hauled away by helicopter. BoJack climbs to the roof of a store in downtown Los Angeles and begins throwing money down onto the sidewalk below.
None of the nearby citizens care about him or the money until Beyoncé slips and falls on the dollar bills. The ensuing media coverage provides a good distraction from the D-carrying helicopter.
However, BoJack is double-crossed when Mr. Peanutbutter has the "D" delivered to his house instead as a romantic gesture for Diane. Angered, BoJack calls Princess Carolyn to complain that Mr. Peanutbutter is ripping him off again, much like their rival sitcoms in the past.
When Diane returns home to Mr. Peanutbutter, BoJack calls to once again express his feelings, but his call is ignored when Mr. Peanutbutter asks Diane to talk intimately. Mr. Peanutbutter apologizes for his grand gestures and explains how much he loves her despite having different personalities.
Simultaneously, BoJack leaves a heartfelt voicemail about how good she makes him feel. As his voicemail message ends, Mr. Peanutbutter proposes to Diane, and she accepts. However, Mr. Peanutbutter reveals he had camera crews waiting for her positive response, and once again makes a spectacle. Diane looks at her ring uncomfortably.
Diane then calls BoJack back, telling him the news about her engagement and asking what his voicemail was about. BoJack tells her to delete it, saying it was another drunken message.
The Hollywood 'D' is then en route to being returned from Mr. Peanutbutter's house to its original location. This return is disrupted, when one of Mr. Peanutbutter's celebratory fireworks downs the helicopter. It crashes into the prison Todd is being held, where he is moments away from being curb-stomped by both gangs after they found out that he was trying to please both at once. He is saved by the ensuing jailbreak.
In Nice While It Lasted, BoJack and Mr. Peanutbutter drive up to Griffith Park Observatory. BoJack questions if this is where the wedding is happening. Mr. Peanutbutter explains they are here for a press conference that is on the way to the wedding. BoJack then says he can't be there as the paparazzi snap pictures of them and he ducks to dodge the cameras.
Mr. Peanutbutter then announces that the "D" in the Hollywood sign will be replaced. Mr. Peanutbutter intended to get another "D" but the unveiling reveals it's a "B," turning Hollywoo into "Hollywoob." Mr. Peanutbutter said he wanted a 'D' as in the 'D' in Birthday Dad.
- Prior Say Anything, during the intro sequence, the sign in the background would indeed say "Hollywood."
- In the episode Ruthie, in Princess Carolyn's fantasy, which took place millions of years in the future, the "Hollywood" sign was still missing the "D" after all that time.
- In the series finale Nice While It Lasted, the sign was "fixed" but with the 'D' replaced with a 'B,' renaming the town as "Hollywoob." This was due to an error made by Mr. Peanutbutter when he placed his order with the sign company.