Short for laugh out loud festival. An abbreviation for four words for people that can't speak properly.

3 or more lolz in a shot period of time

lolfest: in a situation where a mere lol would be inadiquet so insted uses lolfest to mean something is worthy of a festival of lol's

Finding something so funny that it causes you to laugh to the point of tears.

This word is often used by Adrenalize (other aliases include Dren, Styx_Chick, and Styxy.) in the unoffical Pokeplushies chatroom.