The Rice University Neologisms Database

To throw toilet paper into the trees in front of a house with the intention of being mischievous. I am sure the term "t.p." was coined years ago, most likely by teenagers who needed a word that meant 'to throw toilet paper into trees.' The word "toilet paper" was used to describe this action, and it most likely experienced two distinct word formation processes. First, "toilet paper" underwent a process known as zero derivation, in which a word changes lexical category (e.g. N to V) without a change in spelling. Hence, teenagers began to use toilet paper as a verb (e.g. “Let’s toilet paper that house!”). Next, the verb "to toilet paper" underwent a second word formation process; it became an acronym. Most likely "t.p." was used instead of "toilet paper" because the use of the acronym was a more discreet way to talk about a mischievous action.