Uncontrollable laughing and crying at the same time. Usually as a result of trying to cheer someone up while they are upset.
Jenny was so upset last night so I tried to cheer her up with the midget dance. I kind of worked cos' she burst into laughtear
n - A tear which was produced through laughter; usually appears in the event something is astronomically funny.
When Jen started imitating her husband, it made for hours of laughs and gallons of laughtears.