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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!"
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