This group was originated by the five ultimate loli gods.

loli
Derived from the Japanese lolicom/lolicon which, itself, is derived from lolita complex - from Nabokov's novel "Lolita".

1) (Noun - plural: loli or lolis) A prepubescent girl; especially in Japanese anime/manga.

2) (Noun - plural: loli or lolis) Hentai porn depicting prepubescent girls. Sometimes extended (erroneously) to adolescent subjects.

3) (Adjective - not comparable) Of or pertaining to lolicon pornography.

Note A: while the term can be used for either real or animated girls, it is rarely used to refer to pornography depicting real children (cp).

Note B: often the term "loli" (like related terms) is misused to refer to infant, adolescent, etc. girls. Strictly speaking, however, the term refers only to prepubescent girls (primarily ages 4-12)
Sense 1:
Person A: I love Lucky Star because all the characters are lolis!
Person B: You're such a pedo, lol.

Person A: I got to babysit the hottest loli last night.
Person B: Remind me not to let you near my kids...

Sense 2/3:
Person A: I was lurking /b/ last night and someone posted the hottest loli manga.
Person B: I am a BANANA!