look up any word, like blumpkin:
 
1.
When somebody fails something and you laugh at them (can use multiple lols)
(A fat person beside you is walking up some stairs and gets tired and falls over)
You: (point at them)Failolololol!!!
by That Guy ---> O.O February 18, 2009
 
2.
This term is used when describing the act of laughing out loud at someone who has just "failed", or done something or said something wrong that merits laughter. The word is a combination of the word "fail" and the internet term "lol" that stands for "laughing out loud". The word is pronounced fail-oh-el. However, this word is not to be used in spoken conversation, it is only appropriate when typed out in some kind of internet message.
*Jimmy stumbles over his words*
You say: FAILOL!
*Jimmy says something stupid yet wity*
You say: FAILOL!
by fishbm May 15, 2008
 
3.
This term is used when describing the act of laughing out loud at someone who has just "failed", or done something or said something wrong that merits laughter. The word is a combination of the word "fail" and the internet term "lol" that stands for "laughing out loud". The word is pronounced fail-oh-el. However, this word is not to be used in spoken conversation, it is only appropriate when typed out in some kind of internet message.
*Jimmy stumbles over his words*
You say: FAILOL!
*Jimmy says something stupid yet wity*
You say: FAILOL!
by fishbm May 16, 2008