Quite simply; Vice President I'd Like to F**K. Of course this is a freshly minted term in direct response to the current Republican Vice President pick made by John McCain, one Sarah Palin.
Rufus: McCain's wife has got to be pissed bro.
Bro: Whaddup Ruf, what da deal?
Rufus: His pick for VEEP is a VPILF!
Bro: Shure makes Obama's wife pale in comparison.
Vice President I'ld like to fuck
Sarah Louise Heath Palin is running for VP with the Republican Party; whatta VPILF
Vice President I'd Like to Fuck
Based on the word MILF made famous by the movie "American Pie".
Alaskan Governor Sarah Palin would be such a VPILF
An acronym for Vice President I'd Like to Fuck, a variant on MILF (Mother I'd Like To Fuck).
Alaskan Governor, and aspiring vice president, Sarah Palin is a total VPILF.
Vice President(ial candidate) I'd like to fuck
Coined after Sarah Palin's nomination as John McCain's running mate.
"McCain's running mate: I'd hit it but I wouldn't vote for it. She sure is a VPILF"
"Uh duh dude, first VPILF in history!"