Laugh spawned in the "Community" section of the original
AOL series. It is a sarcastic way of shrugging off a ill attempt at a
flame, and/or libel. Something to the extent of "Whatever".
It is mostly used by the lesser l33t of the internet community to make up for the fact they are what they are. (Side note) Most counter-
strike players use it.
Bill: DUDE OMFGWTFBBQ YOUR A IDIOIT
Bill: YOU NEED TO GO KILL YOURSELF WTF!
Bill: IF YOU DIDNT USE AIMBOT, ID WTFPWN
Bob: laff.