In terms of league, it is a player who solely plays passive champs. This strategy is utilized to be carried by their team and gain elo, hence the name.
Depending on the amount you consume it will increase your elo in a video game of your choice within 2-6 hours of consuming it, side effects may include wonkiness, loss of memory, bad things happening to you.
I drank the elo potion and everything just clicked, I finally managed to escape oompa loompa low.
Disgusting Low Master Dogs finally can't harass me anymore