Very Important Person. So - the Pope, or the President of the USA is a VIP. "We were treated like VIPs when we went to the party at the Embassy."

VIP shorts for "Very Important Person" For my own version, it stands for "Very Irritating Person". lol....

getting good treatment

I've noticed other languages have appropriated this acronym, but pronounce it "vip" as in sip, tip, rip etc... When saying VIP in English, always spell it out: "vee-eye-pee".