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Front Page Post
An FPP is a Front Page Post, which is nothing more than a post made to MetaFilter that appears on the site's front page. It is a 'front page' post to distinguish it from comments left in threads or posts made in the other MetaFilter subsites (e.g. MeTa, Ask MetaFilter). The term 'front page post' is unwieldy enough that it is inevitably abbreviated. MattH aughey frowns on the use of FPP as an acronym since it is so opaque to the uninitiated.
(Personally speaking, I didn't manage to figure out what it meant until I'd been a member for over a year. I always thought it might be 'First Paragraph Post', 'Four Paragraphs Post' etc. - User:Adrian