The word grammagram, coined by lexicologist Richard Lederer, is a word or phrase that is expressed phonetically as a sequence of letters or numbers. (A related term is rebus, a word that is represented by letters, numbers, and drawings or pictograms. So in a sense, a grammagram is a letter rebus.) For example, XS is a grammagram of the word “excess;” 4C is a grammagram of the word “foresee.” Grammagrams are often used in vanity car license plates (eg, 4U2NV = “for you to envy”) and form the basis of many textese words (eg, B4=”before”, BCNU=”be seeing you”, CUL8R=”see you later”). Below is a list of some common grammagrams.
IOU: I owe you
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For further reading: Making the Alphabet Dance by Ross Eckler (1996)
Crazy English by Richard Lederer (1989)