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2 opposite definitions, depending on the situation:
1st: I love you! Exclamation abbreviation. Does NOT stand for anything, but is a fun way to abbreviate ILY (I love you) among friends. Also softens the vulnerability of actually saying "I love you."
2nd: Oh-you-make-me-so-crazy-sometimes-but-I-still-love-you!

Think of it like that gesture from Friends--where they bumped the back part of their fists together when they're fed up with one another. It's not as harsh as F-U, but it's meant to have an in jest undertone for when you're frustrated by someone you care about.
Just a reminder--this does NOT stand for anything. It's a silly backlash attempt at all the text abbreviation vernacular that has crept into spoken communication, i.e. "LOL!" "OMG!" "JK!"
"OK, I'll talk to you later. Thanks for lunch, that was so sweet! QQFT!"

"Oh...Kendra, Q. Q. F. T.!!!" (After your sweetheart reminds you not to wear shoes in the house, or after your sweetie reminds you to close the shower curtain or to stop keeping the toothpaste in the shower, or to stop parallel parking so close to the other cars...that's the general idea.)
by CrazyMadwoman May 26, 2010
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