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1.
An ass clown. Someone who provides many lulz from their own ridiculousness.
Bill: Did you go to that link I sent you the other day?

Ted: Yeah, that guy was a lulzcow.
by kiwigum2 May 31, 2007
 
2.
Someone who gets offended easily on the internet, providing "epic lulz" to the people who annoy said lulzcow in the first place, fueling an endless cycle of lulz.
Winston: Hey, did you see that YouTube video of that 12 year old who screamed "I'M NOT A HOMO!"?

Hajji: Yeah dude, he's a total lulzcow. The commenters on his videos are getting exactly what they're aiming for - his rage recorded on the intarwebs, complete with fair use laws to let them download his video and "remix" it, which infuriates him more.
by InstantWinston May 16, 2009