According to the search results, "loli" can refer to different things:

• In Japanese popular culture, "lolicon" is a genre of fictional media in which young girl characters appear in romantic or sexual contexts. The term "loli" is a shortened version of "lolicon" and refers to sexualized works which feature such characters, and fans of these works and characters.
• "Loli" can also refer to a young or young-looking girl character in Japanese anime and manga, which are subjects of the lolicon genre.
• In some cases, "loli" is used to describe a young, underage female with a childlike appearance, or a female who is of age but still has a childlike appearance physically or in the way she dresses. It is a shortened term for the Japanese word "lolita" which means an underage girl who has not yet reached the age of sexual consent.
• It is worth noting that the term "loli" is often associated with pedophilia and is considered controversial and inappropriate by many people.

In summary, "loli" can refer to a genre of fictional media, a character type in Japanese anime and manga, or a young-looking female. However, it is important to note that the term is often associated with pedophilia and is considered inappropriate by many.