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To "loot", was what the pirates did, and what u do when u find items in RPGs.
Diablo char: w00t nice loot.

Pirate after boarding a ship: Arrrr loot!
by Tweak June 03, 2003
in runescape there are fu*kin loots every where srry my bro plays this game i make him
kill the fucking dee dee lootERS!!!!!!!!!!
by LOOT KILLER April 24, 2007
1 Something indescribably awesome.
2 Or just, you know, awesome.
3 MMO word for "treasure" and shit but, the above definitions? Way better.
"Holy shit, that was fuckin' loot. I almost shit myself."
by Master Chunk November 21, 2005
A backwards-ass tool.
Timmy is such a loot.
by Blackbeard March 29, 2005
a mix between leet and woot made by me in spanish class. Mostly used alone or when you steal something in MORROWIND.
(after stealing phat stuph) LOOT!
by Vinnie Hohmann September 07, 2003