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A goup of friends or your squad that is fun or cool.Also could be refering to a person who is your friend and telling them something was fun or cool.
Ex:Person one: that was lit fam

Person two: yea that party was lit

Ex : me and my friend were lit last night
Lit fam by Rayray03 February 21, 2017
When you are a pyromaniac and you light your house on fire for pleasure then you sit down and watch yo fam get crusted.
That's one nice lit fam
lit fam by scusemebiatch October 30, 2016
A gang or group of individuals who get high all the time and trap hard. Often misused by rich white kids who are pussys that think they are hard and try to give them selves the image that they get high and trap all the time when in reality they don't.
Real Lit Fam: My lit fam just made 100k last week pushin this dope
Pussy Rich Kid: *tweets* Thet hate us cuz they ain't us #LitFam #Swag
swag trap hard pussy
Lit Fam by ABCDJKMOW January 13, 2015
When you are a pyromaniac and you light your house on fire for pleasure then you sit down and watch yo fam get crusted.
That's one nice lit fam
lit fam by scusemebiatch October 30, 2016

Lit Fam dab 

If you say this your are brain dead
Teacher trying to act cool: hi lit Fam dab.
Other people:what are you autistic
Lit Fam dab by DFZR June 13, 2018

Lit Fam TPMS 

Hey Lit TPMS Gamers. Did you know that TPMS is a nice place were a lot of people have lot's of (cough,) fun. Also it is the kingdom of KFC and not Popeyes because Popeyes is nasty, even though you are kind of respected if you like Popeyes, .....not really. The KFC god watches over the sanctuary of Middle School between the Peaks that are Twins. He protects everyone and every animal by stuffing their face with buckets of 20 piece chicken. The KFC god's delightful name is Armen The Great Popeyes Hater. So rest assured that the KFC god will always be watching over TPMS.
Epic Gamer: Hey dude let's go get some food
Non Epic Gamer: I don't know
Epic Gamer: Let's go to Lit Fam TPMS and get some KFC
Non Epic Gamer: But I like Popeyes
Epic Gamer: SHUT UP CHILD!
Epic Gamer:We're going to get some KFC from Lit Fam TPMS
Epic Gamer: Oh, btw kids, get KFC instead of Popeyes because Popeyes will make you want to stick your head in a toilet...........and that is totally normal.........for people who like Popeyes, Chow!
Lit Fam TPMS by TheKFCgod December 10, 2019