1. When you love a crazy person even though it may be dangerous at times.
2. To be overly obsessed with loons (the birds) to the point of wearing loon sweaters and neck ties.
Example 1
Person 1
"I know he's crazy but I love him anyways!"
Person 2
"But he might kill you!"
Person 1
"YOU DON'T KNOW HIM LIKE I DO!!"
Example 2
Person 1
"OH HEY! Did you see her awesome loon sweater?"
Person 2
"oh yeah! I love how it matches his tie!"
Both together
"That's true Loon love! "