Short form of "Elli", a girls name. Used because by saying the letters "L" and "E" the word "Elli" is the result. Best used in text, so most often used on Msn Messenger or on a blog.
1: Hi LE What's up?
2:
MSN friend: Hey wanna come see a movie tonight?
Me: Yeh ok, Can I bring LE along?
MSN friend: yeh It's about time I met this chick