Once "licious" is placed at the end of a word, it now usually has sexual connotations or is of ghetto nature. It is meant to imply that the thing or person is voluptuous, sexy or 'juicy'.
This suffix was originally implimented by beyonce in the common catch phrase "bootylicious".
Parents and middle-aged talk show hosts often use this to parody the ghetto culture, much as they latched onto the suffix "izzle".
Girl #1 "She's gotten so ghetto lately"
Girl #2 "yeah, she's practically slutalicious"
B.or, you feel really fairy-ish today and decide to call everything something-licious
B. O-M-G that is so sexilicious, that is so gorgeoulicious, that is so amazilicious, that is so completely licious!
Being a licious requires: timmycat, septum rings, skunk streaks, rockin' da pink/blue, cocaine, asian, excessive make-up, blunts, myspace, shows, buffalo check/plaid/leopard/zebra print clothing, skinny jeans.
Tastic 1 - "Hey, did you see that licious at the movie theater?"
Tastic 2 - "Yeah, she was choking on Myke Malignant's weiner."