2 definitions by I'mNotATerroristButIPlayOneOnTV

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A somewhat tasteless portmanteau of the internet abbreviation lol and the Holocaust. Used either as an indication of extreme hilarity, or, alternatively, a sardonic rejoinder to a failed attempt at levity. An animated .gif file showing ASCII men and women being gassed has emerged on the Internets.
Positive:
"So then, he's just about to finish me, and he gets team-killed by a nüb with a Deagle!"
"Lollocaust!"
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An obnoxious techno-dance track, issued in 1995 by German group Mo-Do, which has become an icon of perceived Teutonic flamboyance and general weirdness. Flat, repeating 808 lines combined with disciplined, order-like lyrics and fractured, nonsensical English make for a hilarious reaction when played for North Americans.
Listen to the attached sound.
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