AFWM (Asian Female White Male), AWWM, AW/WM, and Asian woman with white man refers in porn to an Asian woman who has sex with a white man.
There is also AFBF, AFBM, AFLF, AFLM, AFWF, AMBF, AMLF, AMWF, BFLF, BFLM, BFWF, BFWM, BMLF, BMWF, LFWF, LFWM, and LMWF.