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1.
a concatenation of the words 'tasty' and 'delicious' - it is one of many common words that are made from tacking on a word or part of a word to the suffix 'licious'
this apple is tastylicious!
by Smellican October 12, 2005
 
2.
One of the few words made by Tasty Network on their YouTube channel.

Combination of Delicious and Tasty used by Tasty Network to describe music instead of "amazing" "nice" "epic" and other verbs what people are saying.
You can describe all your feelings about the track with one word.
This song is tastylicious!
by Liepa August 25, 2012