Lama is the German word for llama. No big conceptual leap there. L.a.m.a. is, at least in Reiner Knizia’s vocabulary, an abbreviation for “lege alle Minuspunkte ab”. Discard all minus points. You could translate the title by its abbreviation, but then an eventual English edition would be called D.a.m.p., and whatever depiction you pick for that would be much less adorable than the crazy llama L.a.m.a. has. And so the international publishers have stuck with the adorable tylopod.
Linguistics lesson aside, L.a.m.a. is a small box card game that is nominated for the Spiel des Jahres this year. Not at all bad for a relatively simple shedding game and worth a look what makes it special.