A portmanteau of lol and oligarchy, similar to lollerskates and lolocaust in its usage and derivation.
Bob and his friends came into the chatroom and quickly instituted a loligarchy.
Any government run predominantly by little girls. Derived from the greek loligarchos, to obsess over Hannah Montana and anything else Disney spawns.
This type of government is characterised by major landmarks being painted pink, all boys being put to death on the grounds that they smell and the national anthem being written by either Hannah Montana or The Jonas Brothers.
Pedophilia is a capital offense regarded as worse than treason in such countries.
The opposite form of government to a loligarchy is a pedocracy, in which all executive and legislative power is handed over to Pedobear.
In the documentary Borat, Borat Sagdiyev claims that all other countries other than Kazakhstan are run by little girls. Those would all be loligarchies.
The United Loligarchy of Disneyland is a small city state similar to the vatican run almost entirely by little girls who police the streets.