Just What Are Love Handles?
Are the Obliques Love Handles?
The obliques which are the muscles on the sides of your body above the hips have been given the slang term of "love handles." The diagram below shows the obliques from a posterior perspective (rear view.)

These oblique muscles can become flabby and covered with a layer of fat. This gives the appearance of a ring around your middle or rolls of fat giving a "spare tire effect." This is not pretty definitely not from the rear view.

Image by Alexander Gerl
Getting Rid Of Love Handles
How to get rid of belly fat, tone the obliques love handles? You will need to start an exercise program to increase your body's metabolism exercising 3-4 times per week. You will need to do cardiovascular aerobic exercises that will work your heart and help your body to get rid of fat.
You may then tone love handles by doing exercises that target the obliques and other stomach muscles to further help reduce love handles such as crunches, and sit ups. The best source of information on reducing your waist and helping to eliminate love handles is the book by Mike Geary.