Bin

Trash bin, usually emptied once weekly by the Utility of Garbage.

Cake

The shape of fiber after being wound from a Hank.

Coffee Break

Resting the eyes and hands with a sip of what's in the cup/glass/pounder to refresh the knitting focus.

DPN

Double Pointed Needles

DS

Destash; trade, sell, or gift yarn.

FO

Finished Object

Frog

So goes the auditory call of the Frog; to RIP OUT, off the needles, all your work to cure an error.

Frog Pond

A storage spot containing projects scheduled for Frogging.

Gauge

Creating a stitch the same size on all projects, no matter the weight and needle size the designer calls for.
Devotion to accuracy. See: Tax Return. 
Mathematical, scientific measure ignored by, fought against, and frustrating most Skaters. See: Skaters 
A sample piece of work Knit to required stitch count and row count to an overall finished size.
The most important beginning to a project and the most ignored. 

KIP

Knit In Public

Knitter

He/She that Knits.

Knitting

The act of creating fabric by meticulously looping string using two needles.

LYS

Local Yarn Store

Muggle

A person whom only uses one needle with string.

OTN

On The Needles; a WIP. See: WIP

Pooling

One color of Multi-color fiber that repeats wherein all other's do not. An error in gauge to length and repeat of color.

RAK

Responsive Act of Kindness; Making Eye Contact with everyone, saying Please & Thank You, to never judge nor condescend, to never gossip, to humble one's self. To be inclusive at Knitting Group

SABLE

Stash Acquisition Beyond Life Expectancy

SEX

Stash Enhancement Xperience. See: Spending Money

Skater

A knitter whom avoids feeling the wonder of the yarn by using 1" of fiber when 1/4" is required.

Tink

The opposite of Knit. See: Knit; Frog; Coffee Break.

Toad

A project removed from the Frog Pond for complete and total decimation. See: Scissors, Bin.

UFO

Unfinished Object. See Frog, WTMWIP.
Unidentified Flying Object: Usually Jupiter on its axis, coasting within view of the living room window. 

Vanilla

A simple project, usually a free pattern, that requires little effort and attention.

WIP

Work In Progress

WPI

Wraps per inch. See: Gauge
Wraps per inch. If you can wrap it you MUST knit it. See: World Peace. 

Yarn Barf

Unwarranted explosion of yarn from the center of the ball.