The true origins of the abbreviation is unknown however a reliable source from the rocket league platform reports the non abbreviated term to be:

Very Tiny Penis

VTP was reported as so effective at stupifying opponents on in game chat, that often no chat will follow for the whole game. While you look up this definition you fucking cunt.

when you've done something so cringe you can't stop replaying it in your head and it stops you from getting on with your every day life

Short for "Volim Te Puno" in Croatian language which means "I love you very much".

Very Talented Person (V.T.P.)- is an acronym for Very Important People. A VTP Is a person who is accorded special privileges due to his or her talent and gift to the world.

VTP means "very tiny penis", and is often reffered to when talking about asian men, or people you think may have a small penis. They are often described to as "microscopic" or "like whisps of dust". You don't want to be a vtp, but rather a "BTVTP" or "Bigger than a Very Tiny Penis".

:1 visio transmitted paralysis . to view something so obese, horrific, ugly, disgusting ... etc that it causes a sudden lose of motor skills or split second idleness.

: 2. a cringed or retarded face or body gesturing that is produced uncontrollably by the viewing of something obese, horrific, ugly, disgusting ... etc.

:3 a person or thing that causes said reaction.

An acronym for (a) Very Tasty Person