Day old poop that you discover the nextmorning, or the next week.
You know when you're on the phone with some company and you really have to go so you poop and don't want to be so rude that you flush the toilet, so you leave it for the time being and the next morning you roll into the bathroom and look down. That's a floating larry.
Literal Larry is the subconscious personality in all of us that comes out when conversing with another individual. He hears a sentence, comment, statement or question from a person, and instantly distorts it by conjoing words initially intended to have a different meaning...and then responds to the newly constructed grouping of words instead of the original intended ones...
1.)
Me: What did she look like?
You: She was short, cute, spanish, glasses.
Me: anddd what do spanish glasses look like?
Bad Larry (or its Latin equivalent, Larrius Malus) is an epithet given to a select few worth of its bad assery. One cannot become a Bad Larry, one is born a Bad Larry. They are usual fairly "chill" and may or may not be annoyed with your antics.