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A lulzfag is a person who over uses the word "Lulz" like using
at end of insults. To make this failure worst then being a lulzfag is by mistyping most of the words used in the insult/speech. It was also used in the "Youtube war" as a comeback for the furryhates thus "Furfag" "Lulzfag" But that was just a stupid little war that was just a waste of time..
Jimmy: lol u fal fag luLz.(Lol you fail fag lulZ)
Timmy: Oh god another lulzfag GTFO.
lulzfag by Nooneyouwillneverknow. January 6, 2008

Lulzfactory 

adj. A modern affectionate term reserved to describe a person whose actions and articulations unintentionally, yet continuously, produce lulz to be enjoyed by friends and associates.
Smalls Biggie: "That guy Alex sure is a a Lulzfactory!"
Shakur Tupac: "Yeah dawg i cant wait to see what he does next!"
Lulzfactory by blacksmith71 November 13, 2011
Related Words

lulzrage 

when you are angry at current events, and yet are powerless to affect change, therefore post internet memes that cynically make fun of the issue at hand.
IE. The current images of John Pike spraying the UC Davis students, that have been altered showing him spraying Ghandi, The Beatles, and classic works of art. THEN as a result the masses in a "lulzrage" repost these memes showing support for occupy wall street.
lulzrage by desade November 22, 2011
One who doesn't give a flying fuck about that much of anything. Has no life. And goes on 4Chan daily to look at peoples posts just to look and laugh at them.
Ex. 1 "WTF is Brian doing?...Oh he's being a lulfag."

Ex. 2 "Well I got my laugh in today...Lulfag MISSION COMPLETE!"
lulfag by *//Anonymous//* February 11, 2010

LulzFarm 

A group of people working with or against each other to insult people in the group but in a funny way.

Its an extension of lulz mainly used in anonymous IRC sessions.
That LulzFarm was funny as hell last night.
LulzFarm by GingerPaul55 August 4, 2011