No "L"

An example of white trash Christmas decor:

It was propped up in someone's yard, lit like a marquee by thousands of appropriately colored lights.

And I struggled to understand its meaning. Come, follow my thought process:

What? Bad "L"? Wrong "L"?

No, it has to be No "L". No . . . no Leh, leh, lesbians?

That doesn't make sense. Why would someone say no to lesbians and not gays?

Then maybe it's No LGBTs?

No. People aren't that cruel . . . are they?

No . . . No Lawyers?

Why would someone say that?

Good point. Maybe they hate a certain family whose last name starts with "L". Like No Linderman's Allowed!

No?

No Loitering? That one is at least plausible.

Or maybe it's not a letter thing at all. Maybe that "L" is really a right angle. Like No 90 Degrees! As though they're cheering for the cold.

. . .

I cannot be this stupid. Think, think, THINK!

No "L"
No "L"
No "el"
No el

Noel.

Dumb.