Raise the back of your tongue to touch the soft palate (velum). Stop the air, then release.

Americans pronounce cholesterol as kuh-LEH-stuh-rohl (/kəˈlɛstəˌroʊl/). The L in "cholesterol" is a dark L — the back of the tongue rises toward the soft palate, adding a small "uh" quality before the L. This is called the Dark L vs Light L, a hallmark of natural-sounding American speech. It comes out as kuh·LEH·stuh·ROHL. Stress falls on the second syllable — keep everything else short and quick. You'll hear it in sentences like "I have been monitoring my diet to manage my cholesterol levels".
Record yourself saying "cholesterol" and play it back. The mic stays on your device — nothing's uploaded.
4 syllables, 10 sounds. Tap a syllable to jump to its row, then explore each sound's mouth shape and how it's made.
Place the tip of your tongue against the alveolar ridge just behind your top front teeth, the same contact point as /t/, /d/, and /n/. The difference is what happens to the air: for /l/, you let it flow continuously around the <em>sides</em> of the tongue (that's why /l/ is called a lateral). Turn your voice on the whole time. Lips stay relaxed, no rounding or flaring. For the Dark L variant at the end of a syllable, also pull the back of the tongue up and back toward the soft palate.

Drop your jaw moderately. Touch the tongue tip behind the bottom front teeth and lift the mid-front part slightly toward the roof.

Place your tongue tip near the roof of your mouth behind your top teeth. Push air through the narrow gap. No voicing.

Touch the tip or front edge of your tongue to the roof of your mouth just behind your teeth. Keep your jaw relaxed. Stop the air, then release with a puff.

Relax your lips, jaw, and tongue completely. Drop your jaw slightly and keep the tongue neutral.
The schwa before R disappears — R becomes the vowel of the syllable. This is the 'er' sound without a distinct vowel before it.

Start with your mouth slightly open, then close your jaw slightly as your lips round. Shift your tongue back slightly, then stretch the back up.
Keep the tongue tip down and pull the back of the tongue up toward the throat. The 'dark' sound comes from the back.

The textbook way isn't wrong — it's just not how anyone actually says it.
The L in "cholesterol" is a dark L — the back of the tongue rises toward the soft palate, adding a small "uh" quality before the L. Dark L adds a small schwa-like "uh" before the L. The back of the tongue lifts toward the soft palate.
Stress falls on the second syllable, not the others. Stretch LEH — keep everything else short and quick.
Don't pronounce the first syllable too fully. The unstressed syllable reduces to a schwa — the lazy "uh" sound — in casual speech.