Noun. Commonly used on blogging sites such as LJ, a 'friends list' consists of users that a person frequently comments on and/or 'talks' w/. When a user is added to a person's friends list, the user's entries appear on that person's friends page. Flist is commonly used as an abbreviation.
User: Hey, add me to your friends list?
User: I was only gone for a few days, but there are tons of entries on my friends page!