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1.
the act of cutting a large / small (depending on male) hole in the base of a popcorn bag / box. Male inserts cock into hole, covers with popcorn and leaves it as a surprise for unsuspecting hot female, if done properly resulting in sex.
"Dude i lolapalooza'd that chick last night she loved it"
"Dude while lolapaloozing buttered popcorn is not a good idea :("
by Ben Dover31 February 29, 2008
 
2.
The act of people getting together and laughing at stupid, rather irrelevant stuff. When one person says something funny, and the other adds on until it becomes unbearably funny.
Draco:"Hey! Where is my aunt and my mum?"
Sev:"They are having a Lol-A-Palooza over soem fanfictions."
Draco:"Disgusting..."
by Ciss<3 June 18, 2010
 
3.
to have a extreme laughter party while on xbox live and or PSN
YAY!we pwning teh n00bs l3ts h@s a lolapalooza!!
by jewmangroup13146 March 06, 2009
 
4.
1.an act of 'laughing out loud' with a group of friends while soaking each other's awesomeness

2.an awesome alternative to the overused 'LOL'
We lolapalooza'd when that gotti wannabe's ass is pawned.
by Awesome K-Bot February 20, 2008