Lisa Olivia Munn was born in Oklahoma on July 2, 1982 to mother Kim Munn and father Sam Munn; she is of Chinese descent on her mother's side and of Caucasian descent on her father's. At the age of two, Munn's mother re-married to a man in the Air Force, and shortly after, they relocated. Although the family had relocated many times, Munn was predominantly raised in the Shinjuku district of Tokyo, Japan, where the military assigned her stepfather. During this time, she had appeared in a number of local theater productions, and later became a model within the Japanese fashion industry.
Munn moved back to the United States, settling in Los Angeles to pursue an acting career. In 2004, she interned at Fox Sports Net and worked as a sideline reporter for college football and womens’ basketball. She has gone onto say that she disliked the experience, explaining "I was trying to be something I wasn’t, and that made me really uncomfortable on live TV." Munn had also gained a small role in the straight to video horror film Scarecrow Gone Wild.
In 2006, Munn moved on to the G4 network, where she began co-hosting Attack of the Show with co-host Kevin Pereira on April 10, 2006. She was replacement for host Sarah Lane, who left the show along with Brendan Moran to get married. The network, devoted to the world of video games and the video game lifestyle, was at first hesitant to hire Munn because knowledge of the subject was her "weak point". However, she was eventually hired because she was more familiar with electronics. Alongside working on Attack of the Show, Munn hosts Formula D, a now defunct program about American drift racing. Munn also hosts a podcast on G4 called Around the Net; formerly known as The Daily Nut.