What does the following rebus represent?
$\ \ \ |ly| \ \neq$
The phrase would be
I would say the answer should be "Absolutely not equal".
For "Absolutely not", I would've constructed this rebus:
$\ \ \ |ly| \ \neg$ or $\ \ \ |ly| \ \sim$
As an alternative to Will's answer,
if the RHS isn't nothing (but what it is isn't specified) and the LHS is absolute-ly,
it can be absolutely anything!