1.) The process of generating lulz for one's own enjoyment
2.) Lulzing in private with no one else around
3.) Lulzing alone with the shades closed, doors locked and lights down.
I wrote this email the other day and lulzterbated all the way home, i've been cleaning my car ever since.
Dude, please close your door if you are gonna lulzterbate all night... we can hear you in the kitchen
Lulzterbation is a safe form of lulzing without the risk of catching any community-related lulz diseases