Internet acronym meaning "laugh out loud". However, most moms believe that "lol" stands for "lots of love".
Frank (on Facebook): Dude, did you see that epic fail? lol!
Joe (on Facebook): lol, it was hilarious!
Mom (looking over Joe's shoulder): LOL? Are you and Frank gay? You love each other?
Joe: NOOO!! lol means laugh out loud, not lots of love!
Mom (doesn't believe it): Sure it does...