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The lute refers to both any plucked string instrument with a fretted neck and a deep round back as well as specifically an instrument from the family of European lutes. Lute and oud both descend from a ommon ancestor, with diverging evolutionary paths.

And it is played a lot at Renaissance faires.
Queen Elizabeth I is portrayed as playing a lute.
lute by Renaissance fan December 12, 2006
lute is used in place of almost every word. It can mean anything that the user wants it to mean. Usually is used as a compliment, but can become a slam if used properly.
"Wow, that shirt is totally lute!" (in this case it can be seen as either)
person 1, "I just aced my bio midterm!"
person 2, "Nice dude, tottally lute!"
(here it is used as a compliment)

Person 1, "Your a loser!"
person 2, "oh yeah, well your tottally unlute!"
(here it is a slam)
these are bad examples, but i think you get the general idea.
lute by darkelite9 May 2, 2008
The mascot of Pacific Lutheran University in Parkland, Washington. A LUTE embodies the spirit of philosophy of the university; that of leadership and lifelong service to the greater community.
Pacific Lutheran University Lutes! go Lutes!
lute by Tina Marie Schmidt November 12, 2007
Damn... That stripper has a big lute!
lute by Daniella2121 February 17, 2006
Another mispelling of the word loot, commonly used by online gamers to describe the artifacts/items they found via a quest or defeating monsters.
Rexxar- Dood! I just got some phat lute from that quest!!!
Legolass- O RLY?
Rexxar- Yeah! I just found a Hammer of Sundering and Bracers of Infinite Strength!
Legolass- ZOMG THAT IS SWEET LUTE!!!
lute by Nesk June 24, 2006
Being of the strongest, and highest order of friendship, an unbreakable bond between friends.
Zach, Spencer, and I are lutes. No friendship could compare.
Lute by wowloser November 28, 2017