Loli-shota is referring to the words lolita (which is the
cutesy clothing style in which girls dress in clothes that make them appear like little girls) and
shota (which is the term often used in fanfiction to indicate the inclusion of young, pre- and early pubescent boys in sexual acts, usually with much older adult men.) The terms, when used in conjunction, often represent a young boy who is overly effeminate, or "cutesy".
