Basically a combination of a lot of acronyms. It stands for: Roll On the Fucking Floor Laughing My Ass Off Out Loud To The Fucking Max.
It's usually used when something is outrageously hilarious. It's meaning is even mroe evident and bold when it's in CAPS.
<Scene from Family Guy>
Stewie: For every sprinkle I find on my cake...I'm going to kill you.
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