Labatt Blue Light [is a] light lager.
Light beer refers to beer which is reduced in alcohol content, or in calories, compared to “regular” beers.
A lipstick lesbian is a slang term used to describe lesbian and bisexual women who exhibit feminine gender attributes, such as wearing make-up (thus, lipstick), wearing dresses or skirts and perhaps having other characteristics associated with feminine women.
Lip gloss is a cosmetic product used primarily to give lips a mildly glossy lustre and sometimes subtle color.