Alternative form of li'l
"In casual texting, many people spell it as lil instead of li'l when they want to say something is small or young."
A diminutive of the female given name Lilian/Lillian/Lily.
"Lil waved goodbye to her friends as she walked down the street."
The word lil is a shortened form of the names Lilian and Lillian. It entered English as an affectionate nickname that eventually became a standalone term.