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Lols that are very funny, as in not just a normal chat "lol" but lols that make you go lol.
Hey martha, you coming out for funny lols tonight?

Ellie, make sure you funny lol me later.
by big_bad_bizzle June 02, 2011
adventures and mishaps that take place, usually on student nights out with a large number of people. often involves gossip such as between members of a friendship group getting off drunkenly. Also the aftermath of a messy night out
Ellie: last night was major funny lols
by officer of funny lols June 02, 2011