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1.
When you actually laugh out loud, whilst chatting online. I.e. Rather than the generic 'lol', which, as you know, means nothing.
Me: My mother just caught me masturbating to anime.

Josh: Literalol! You sicko!
by graydj July 10, 2008
13 5
 
2.
Also spelt "literal-lol", or using any mutations of "lol" such as lawl etc. Literalol means that you are literally "lolling", that is, laughing out loud. Because the word lol has now lost all it's meaning, the term literalol has been created to signify that you are actually laughing, not just that you find something funny. The word originates from the two words, literally and laughing.
Bill: *insert crappy joke*
Jerry: lol
Bill: *insert yo mama joke*
Jerry: LITERALOL!
by scienceguyJ October 29, 2009
2 1
 
3.
Laughing out loud, or loling, but actually doing it instead of making shit up like people do all the time online.
"Aunt Jemima just tried to do a body shot off of Margaret Thatcher and ended up shitting her pants, and I am literaloling left and right over here!"
by Wil G March 10, 2007
2 1
 
4.
n., When you actually laugh out loud at something. Used on Facebook, when texting, etc.
Tina: So I told him, Officer, I swear to drunk I'm not God!
Joe: literalol
by Kaia___ May 31, 2011
0 1