A combination of 'laugh out loud' and 'rape'. Best implemented in situations where conversation has hit a silent lull or in an awkward silence.
Jenny: "But.. I thought you cared about me Billy and now you're leaving?!"
Billy: "... ahh lolrape."
Luke: "Guys.. I have some bad news. I've got cancer. I only have a couple of months."
The guys: "Awkward silence"
being raped by a clown or comedian. gender is largely irrelevant.
Jenny: OMG, I got raped. By a clown!
Hayley: That's not rape, that's LOLrape!
Jenny: You're right! LOL!