A synonym/equivalence to a homosexual. The expression was popularized by superstar and comedic geneous sasha baron cohen. He most often uses the phrase when portraying his character borat. He has however been known to use it occasionally when playing his other character ali g.
the men over there with the long mustaches and bald heads are a bit looli looli, no?
a lemon lolli is when a guy gets his asshole sucked on while he takes a piss. lemon represents the act of urination and the 'lolli' is associated with the baloon knot being sucked on, hence the lemon lolli.
Due to the lack of genital stimulation from a lemon lolli, this act is most often enjoyed by looli loolies (urban dictionary term for homosexuals)
that girl gave me a lemon lolli last night , and im not talking about the hard candy. ohhhhh BOIIII!!