Funny as fuck. A text message and internet contraction set to be implemented in 2009 to replace the aging 'lol'. Anyone using the soon-to-be obsolete 'lol' in 2009 or later is in violation of federal law and is subject to be killed on sight by any officer of the law at any time under any circumstances.
Person A: "Lol, that's funny."
Person B: "Ha! Look at that faggot!"
Person(s)C-Z: "Get him! Homo!"
Person B: "Listen to him squeal! It's FAF"