1. A term mistakenly used by internet noobs who mean to use the more popular and famous term "roflcopter."
2. An inferior version of the roflcopter.
noob: LOLCOPTER THAT WAS A FAIL.
John Smith: ... fail. "lolcopter?" it's roflcopter retard.
The most supreme of all 'copters, the almighty LOLcopter is the defender of laughter and goodness. It thrives upon the happiness of children, and it spreads its joy wherever it can.
Look kids! It's the LOLcopter!