Here are a list of words of what is known to be in use or said. (These are only the ones I can think of right now, please let me know if there are anymore).
Role-Play: Or rp is where someone with a group of people where they basically write story of some sort with characters that they know or created.
In Character: I.C. is where that you are currently playing your character.
Out of Character:O.O.C is where someone would put in parentheses or anything to show that they are not in character.
Original Character: Or O.C. is where the character is basically made by you.
Canon Character: Or by the term canon, is where the character is from a tv show, movie, book, etc, etc.
God Modding: This is frown upon everyone and even the universe. No one doesn't like it. It's unfair and causes alot of fights and drama. God modding is where a character (Yours or somebody else's) claims to be some sort of deity who can't be killed or dodges attacks or controls another character.
Bunny Hopping: Same just like god modding, is where your character takes control of somebody else's character. That is frown upon as well.