Definitions by Hrair

guacaloly 

A deritive of "lol" or "lawl." It stands for laughing. Can be used in same context as rolfcopter.

It is a word that college students can come up with after sleep derprivation, once such a word is discovered, maniacal laughter follows.

Holy guacaloly Batman!

guacaloly by Hrair April 13, 2009