1 definition by pinkchalk

Top Definition
A possibility for a potentially humorous event to occur, particularly one that will result in one or more people laughing out loud (see LOL).
"The condom broke, do you think she might be pregnant?"
"There is a good possibLOLity."
#lulz #lol #rofflez #rofl #zomg
by pinkchalk January 07, 2009
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