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A goup of friends or your squad that is fun or cool.Also could be refering to a person who is your friend and telling them something was fun or cool.
Ex:Person one: that was lit fam

Person two: yea that party was lit

Ex : me and my friend were lit last night
by Rayray03 February 21, 2017
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When you are a pyromaniac and you light your house on fire for pleasure then you sit down and watch yo fam get crusted.
That's one nice lit fam
via giphy
by scusemebiatch October 30, 2016
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1. litfam = Weed.
2. lit, fam = High.

This jargon is used for them kids who are talking about the illicit drugs around parents, to mask the conversation.
1. "When we buying litfam?"
2. "Maaan, I'm lit, fam."
by seanb0a May 25, 2018
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A gang or group of individuals who get high all the time and trap hard. Often misused by rich white kids who are pussys that think they are hard and try to give them selves the image that they get high and trap all the time when in reality they don't.
Real Lit Fam: My lit fam just made 100k last week pushin this dope
Pussy Rich Kid: *tweets* Thet hate us cuz they ain't us #LitFam #Swag
swag trap hard pussy
by ABCDJKMOW January 13, 2015
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7
When you are a pyromaniac and you light your house on fire for pleasure then you sit down and watch yo fam get crusted.
That's one nice lit fam
via giphy
by scusemebiatch October 30, 2016
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Get a lit fam mug for your dog Yasemin.