Loser, trailer trash.
Bobbie Joe is such a lott. He's got a $30,000 pickup truck, and lives in a $5,000 mobile home.
The name (almost always the last name) of a person that excels in most, if not all aspects of life.
Homie 1: Look at that big douche-fag.
Homie 2: Hey lint-licker, whats your name?
Lott: (insert first name) Lott! You might remember it from when your girlfriends yelled it out while copulating with you the other night.
Homie 1: Hey you litt--
Homie 2: DON'T TALK BACK, HE SAID HE WAS A LOTT, FOR FUCK SAKES. LETS GTFO OF HERE BEFORE HE MAKES US HIS BITCH.