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1.
1.When you and your friends are sitting around and one of you makes a joke and every one starts laughing hysterically.

2.Just another way to say "laugh real hard" but in a more silly,sexual manner...hence, the 'jizz' in gigglejizz.
Hey John, did you hear Jane sing at the karaoke bar last night? She was so bad! And I gigglejizzed everywhere!
by Spiderman103 August 28, 2010