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Abbreviation for "Let Me Lick Your Pussy". This is referenced on an early WEEN album, "God Ween Satan". Spelled on the album as L.M.L.Y.P. it is usually pronounced, "lym-lip". It often serves to confuse things in an already awkward moment. Also serves as a binding contract for the return of oral pleasure.
Guy (or cool girl)--"Hey, baby, I like how your hair smells....LMLYP"

Girl -- "Huh?"

Guy -- "...Just take off your clothes."

Girl -- "You sick...!"

Guy -- "Let me lick your pussy!"

Girl -- "Oh, I see. (girl complies)"
by Captain Fantasy January 06, 2006
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