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The art of pretending to skate across the floor whislt saying LOL with each stride, in celebration of hilarious occasions.
Someone injures themselves in a hilarious manor, giving the perect oppertunity for 'lolskates' tp be put in to action.

A caring friend then begins to 'fake skate' in circles around them, yelling LOL! LOL! LOL! LOL!
by alphage July 04, 2009