Syllable division derived from spelling — this word is not in the pronouncing dictionary, so no phonetic transcription is shown rather than a guessed one.
first-come-first-serve is an adjective meaning "not accepting reservations". It carries one recorded sense.
not accepting reservations
Definitions, synonyms and semantic relations for first-come-first-serve come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.