1. A corruption of 'lol' or a purpose misspelling of 'lol'.
2. An idiotic excuse to do
ANYTHING offensive or disturbing (and as such, funny) used mostly by Chantards (
4chan, IIchan, etc.) Gaiafags, or any usual member of Encyclopedia Dramatica.
3. Something funny that is caused at the expensive of others.
Gaiafag: WTF?! A burning cat! Oh
God, why?!
Troll: i didz it for da lulz
/b/tard: dude whyd u cum on ur sisters
face and then post pics?
/b/tard(2): i did it for da lulz