
Max M. answered 01/22/19
Harvard Literature major with 20 years of coaching writers
It's basically a kind of acrostic.
If you looked up acronym, as Mark suggested, you may notice that what you're describing is actually the opposite of that, since you're starting with a word and creating a phrase whose first letters make up the word. For that reason, it's sometimes called a "backronym," but that's still mostly considered a slangy / playful term.