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2.
1. A polite way of saying "go fuck yourself", "fuck you", or even just "goodbye". Short form for "light your ass/self on fire".

2. A way of saying "thank you".
EXAMPLE 1
You: Stop being a bitch.
Me: Light it.

EXAMPLE 2
You: Dinner's on me tonight.
Me: No, you paid last time.
You: No, seriously.
Me: Light it.
by LB79 August 31, 2006
 
1.
1. A polite way of saying "go fuck yourself", "fuck you", or even just "goodbye". Short form for "light your ass/self on fire".

2. A way of saying "thank you".
EXAMPLE 1
You: Stop being a bitch.
Me: Light it.

EXAMPLE 2
You: Dinner's on me tonight.
Me: No, you paid last time.
You: No, seriously.
Me: Light it.
by LB79 August 30, 2006
 
3.
1. A polite way of saying "go fuck yourself", "fuck you", or even just "goodbye". Short form for "light your ass/self on fire".

2. A way of saying "thank you".
EXAMPLE 1
You: Stop being a bitch.
Me: Light it.

EXAMPLE 2
You: Dinner's on me tonight.
Me: No, you paid last time.
You: No, seriously.
Me: Light it.
by LB79 September 02, 2006