Texting jargon that declares one's love for another.
The word originates from a typological error of the word 'know', due to the poor use of the predictive text setting of a mobile phone. As loomy bears resemblance to 'love you' this has resulted in it being commonly mistaken for a term of endearment to the extent that it is now used as such.
A male or female who receives pleasure from giving cunnilingus or fellatio to a person of very short stature a.k.a. a "midget".
"Hey Donna, you're never going to guess who got her pussy licked out by Rich last night? My friend, Bridget the midget!!! He's a bonafide champion Loompa'licker now!!!