A term used for a girl/young lady who enjoys seducing older men, and usually is only interested in older/middle aged men. Lolitas are flirty, smart, and lustful. This term was derived from Vladimir Nabakov's novel "Lolita", where a 12 year old girl seduces her step father.
In a sentence:Ooh look at that Lolita, Tina! She's seducing our math teacher!!!