It simply means, "Laughing Out Loud." Typically said through social media, or texting (which is pretty much the same thing). It's usually said when someone says something weird, yet funny, or just funny itself. 'c' Thank u peeps. c:
Example (weird, yet funny):
Person 1: U smell juss liek pooh. 'w'
Person 2: O_o wut dafuq?
Person 3: Lol
Person 1: U smell juss liek pooh. 'w'
Person 2: O_o wut dafuq?
Person 3: Lol
by fhk x3 April 01, 2016