Meaning of the word "liquid paper" in English

What does "liquid paper" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

liquid paper

US /ˈlɪkwɪd ˈpeɪpər/
UK /ˈlɪkwɪd ˈpeɪpə/

Noun

a white fluid used to cover mistakes in typewritten or handwritten documents

Example:
I made a typo and had to use liquid paper to correct it.
Do you have any liquid paper I can borrow?