Cowboy Dictionary - Letter L
Lariat - A rope used by cowboys and cowgirls for roping cattle. Most cowboys and cowgirls simply refer to a lariat as a "rope." A lariat is also called a lasso.
Lasso - The word lasso can be both a noun and a verb. It can refer to the rope used by cowboys and cowgirls to rope cattle ("Don't forget to put your lasso on your horse"), or it can refer to the act of roping itself ("She sure lassoed that steer quick."). Most cowboys and cowgirls simply refer to a lasso as a "rope," both as a noun and a verb ("Don't forget to put your rope on your horse" or "She sure roped that steer quick.") When used as a noun, a lasso is also called a lariat.
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From Etsy
From Etsy. Article continues below.
Latigo (Definition 1 of 2) - A strap, usually made of leather or nylon, used for securing a saddle onto a horse.
A latigo is found on the left side of the saddle. It is attached to a "D" ring on the saddle, then is laced through the front cinch to secure the saddle to the horse.
Latigos have been traditionally made of leather. Today, however, nylon latigos are also common.
(By the way, the strap on the right side of the saddle that attaches to the "D" ring on the saddle, then is attached to the cinch, is called an "off billet," not a latigo.)
Below: The blue arrow is pointing to a latigo.

Latigo (Definition 2 of 2) - A type of leather.
CowboyWay Dictionary