'Lilo & Stitch' Star -- We Don't Want Your Ass On the Strip

The star of "Lilo & Stitch" is too hot for the Sunset Strip ... because her ass has just been rejected.

Daveigh Chase -- who was the voice of Lilo -- is the star of the upcoming movie, "Wild in Blue." We're told the flick is real sexy, and that's why it's being marketed with Daveigh's ass as its moniker.

Regency Outdoor Advertising owns one of the best billboards on the Strip ... right at Sunset and Doheny, a stone's throw from 1OAK, Bootsy Bellows and Boa.

The folks at "Wild in Blue" offered the market price of $45K for the month of January to plaster her ass, but Regency balked because the image was just too risque.

We're told Regency suggested producers Photoshop "boy shorts" over the thong to make it more palatable. Ain't gonna happen.

The movie's marketers are looking for another billboard on the Strip, but so far no bites ... bites.