A LOLcock is a laugh-out-loud worthy penis; it can be judged so based on it's size (diminutive or outsized), its appearance (most any tattoo would count) the hilarious predicament it's been placed in (with a hat, perhaps).
Dude, that bib totally makes your junk a LOLcock.
The Urban Dictionary Mug
One side has the word, one side has the definition. Microwave and dishwasher safe. Lotsa space for your liquids.
Buy the mug