stands for: Last Icon Maker Standing.
A type of icon making challenge on (mostly)
livejournal communities. This type of challenge is composed of rounds. On each round the participants will have to make one (or more, depending on the community) icon based on a
prompt. The
icons are posted anonymously and then voted on.The icon with the most votes will win the round, while the icon with the least votes will be eliminated. This process is then repeated until there is only one icon maker standing, which will then be selected as the Last Icon Maker Standing.
Some fiction writing
comms have a similar type of challenge -
LFWS, Last
Fic Writer Standing - which revolves around the same principles.