Describing a situation in which one finds something funny, and therefore laughs a great deal.
Often abbreviated: LOL, lol, LoL, lols, lololol..., etc.
<LOL> That was sooo funny!
She totally didn't see that coming! <Lol>!
We must definitely hang out with the new freaks, tell them they're cool, make them believe it, tell them they're lame, and have <lots of laughs> about it!