lama / llama are similar-sounding terms with different meanings (referred to as homophones). To better understand the differences, see below for definitions, pronunciation guides, and example sentences using each term. 👇
lama: (noun) a Tibetan or Mongolian priest of Lamaism. (noun) llamas.
llama: (noun) wild or domesticated South American cud-chewing animal related to camels but smaller and lacking a hump.
lama: l·AA·m·ah
llama: l·AA·m·ah
(Examples are Wikipedia snippets under the CC ShareAlike 3.0 license. Definitions drawn from WordNet.)