Definition from Wiktionary, the free dictionary
American Sign Language 
Alternative forms 
- (with the hand in various locations and rotations to indicate the subject and object) ILY@Left1-PalmLeft1, ILY@Center-PalmForward, ILY@Right2-PalmRight2, etc.
A blend of the ASL letters I, L, and Y, from the initials of the English phrase, “I love you.”
- This one-handed ASL sign is produced with an affectionate smile:
- The hand may be moved or rotated to indicate the subject and object of the affection. The back of the hand faces toward the subject. The palm faces toward the object.
|GUH Hand||LUH Hand||LUH Move||GUH Move||GUH Hand||LUH Hand|
|GUH Palm||LUH Palm||Second||Second||GUH Palm||LUH Palm|
|GUH Position||LUH Separation||Third||Third|
Usage notes 
- (I love you): This sign usually indicates a platonic love and is used to express affection toward a large group of mere acquaintences.
- (to love): S@BackWrist-PalmBack-S@Chest-PalmBack