“Lilly, Irene, Cassie and Karl; if you write out these names, and take the first letter of each, you can form the word which describes what you do, master Eunus! But I can’t mention something so scandalous in Latin.”
Λαὶς, Ἔρως et Ἴτυς Χείρων, et Ἔρως Ἴτυς alter,
Nomina si scribis, prima elementa adime,
Ut facias verbum, quod facis, Eune magister.
Dicere me Latium non decet opprobrium.
A recent post about another Ausonian epigram, addressed to he same Eunus, may help elucidate the joke a little bit. http://sententiaeantiquae.com/2014/09/23/ausonius-epigrams-127-to-eunus-nsfw/