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to describe something that is so sweet, that the words "ill" or "sick" just wont do. Illy is a word that comes from latin meaning "so fresh it's out of this world".
Daniel: Yo did you just see that Honda CRX

Mike: yeah that car was illy, ya dig homie slice.

Daniel: yeah that car was so illy!
by Ace Dace March 06, 2011
Slang for PCP
We gots to score some illy tonite
by Joe August 10, 2003
slang for an Ecstacy pill
Hey Pookie you down to get some {illy}s tonight.
by Bobby Dre April 06, 2009
A cigarette which is dipped in Fermaldahyde solution, which when smoked, contains a form of PCP.
wat's the dilly? let's smoke sum illy
by Austin February 14, 2004
cheap, fake, slut
'Ew. You're so slutty and fake its like you're an illy!'
by luminityxoxo svtherth March 23, 2009
dark , heavy, wkd, killah
dat club was illy
by Badboy Killah April 06, 2003
like a wet willy except you stick your finger in your butt instead of licking it
eww he gave me an illy
by EROCK February 02, 2003