a concatenation of the words 'tasty' and 'delicious' - it is one of many commonwords that are made from tacking on a word or part of a word to the suffix 'licious'
Adj: A combination of the words tasty and delicious, meaning something tastes delicious. It can be about food or a person or fashion or anything you want to convey a very positive description about.
Man, that sandwich was tastilicious! I think I'm going to order another one!