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This tag implies sexually explicit or suggestive (not safe for work) art works of girls who appear to be preadolescent. Please note it doesn't matter whether the character is canonically of age -- if they look like kids, they are loli for the purpose of tagging; and if they don't look like kids, they aren't.
Basically, on Danbooru loli means lolicon: http://en.wikipedia.org/wiki/Lolicon.
For pictures about the ''concept'' of lolicon, use the tag pedophile.
Cute, work-safe images of fully clothed girls should not be tagged as loli -- that is what the child tag is for.
Images tagged as loli cannot be seen without a privileged account. This is due to the advertisers not wanting their ads being seen alongside loli images. See forum #4987 for further details.
If you are not sure whether or not a post should be tagged as loli or shota, ask in the loli/shota check thread.
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