sps=Small Polyped Sceleterian (Sceleteria refers to stony or hard corals) or Small Polyped Stony, lps means Large Polyped Stonies such as Hammer/Torch/Frogspawn Corals.Examples of sps corals would be Acropora as those seem to be the most popular and Stylophora, Montipora, Seriatopora, Pocillopora, Pavona.I think I got those right off the top of my head...........ofcourse I will be corrected if I am wrong it is late and I am tired.But that is the just of your question.
hth