When a joke or comment causes many peoplz to LOL.
person - what did the 0 say to the 8 ?
Group - ?
person - nice belt
Group - LOLOLOLOLOLOLOLOLOLOLOLOL ( <- LOLympics )
When something occurs during the Olympics or any other sporting event that is deemed universally funny yet perhaps a little taboo to laugh at. Epic fails, silly sporting wear, outright ridiculous commentaries that cause peels of "Lolympics".
News Presenter: "Today Boris Johnson Major of London got stuck on a zipwire in an awareness raising event for London 2012 Olympics in East London. He hung suspended in midair for over five minutes. The Prime Minister, David Cameron described the day as a great success."