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1.
An adjective used to describe a word that is possibly funny enough to induce laughter in somebody, but doesn't quite bring you there yourself.
John: Hey, Frank, did you see that episode of iCarly last night?
Frank: No, John, I didn't, but I have it on the DVR. How was it?
John: Well, most of the show was pretty boring, but there was a few parts that were lolsy.
by iPsycosis July 12, 2011
 
2.
This word is 100x better then just any regular lolsies, and it was created by Katie Kelly and Kira Rose-Arnold.

SO DON'T STEAL IT BITCHES.
Lolsies look those people are stealing our word again!
by Kirkat1234 January 01, 2012