(n)This is a
slang term for the female genitalia-- more specifically, the labia minora-- so termed for it's resemblance to stretched (pink) laffy taffy. Therefore, the term may also
carry with it connotation of excessive
sexual intercourse which can result in a stretched or elongated labia minora.
That ho had so much sex, when she spreads her
legs, Willy Wonka himself would
envy her Laffy
Taffy.