This is a compound word, composed of acronyms FML (Fuck my life) and LOL (laugh out loud). This term is used to express the utter retardedness of one's life, when not even FML will suffice in conveying how terrible it is. This is to say, one's life sucks so bad the only thing left to do is just to laugh hysterically at the pure ridiculousness and hopelessness of the situation.
College student cramming for final exams: Dude, it's already midnight and I have to write a 6 page paper by tomorrow morning and I also have a test in orgo that I haven't even started studying for, and I have to get at least an 80 to pass or my parents are gonna cut me off! FMLOL
Fuck My Life Out Loud Sideways.
Person #1: Hey dude! How are you?"
Person #2: "My girlfriend just broke up with me. FMLOLS!"
f*** my lack of a life
-used to describe an fml that isn't really fml
-material. Its just the person's lack of a life, which they think "f*** their life" but its really just sad. It can also be slightly funny to the reader but it's really just sad.
On FML (made up)
"today, I realized that my best friend in the world is my cat. FML"
Reader: "That's so not FML, that FMLOL"