A replacement for the normal "LOL" for when a joke is so wrong and terrible that you shouldn't really be laughing at it but in fact the degree of wrongness makes you laugh.
guy 1: A girl ran into me and knocked me over but said it was ok because she's pregnant, should I have told her off?
guy 2: You should have raped her since she can't get pregnant.
guy 1: terriblol !!
Somethingthat's so bad that it's good. Heckling is usually involved to make it good. Commonly associated with B-list movies, but can be used for anything.
d00d 1: Yo bro, did you check out Megashark vs Giant Octopus yet?
br0 2: Aww yeah, that show was freaking terrigood! Almost as terrigood as Troll 2!!
Pronounced 'terri-blow', used in the same syntax of 'terrible'. A combination of terrible and blow. Refers to anything or anybody that is terrible and blows, in any sense of those words.