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A sub-form of lol. The scheme of how lolzzz was born is:
lol (laugh out loud) -> lols (plural form of a loud laugh) -> lolz (cooler way of the same) -> lolzz (supposedly even more cooler) -> lolzzz.
Lolzzz is usually written, not spoken, but a common pronouncement is 'lol' + a long 'z' getting lower and quieter (like a landing jet plane). It can also be pronounced 'lol-z' with a very abrupt Z.
Lolzzz can refer both to something very funny or something not really funny.
A: My boss recently bought a new PC and bragged about it all day until it showed a BSOD and wouldn't restart anymore.
B: Lolzzz!

A: My neighbour's cat yesterday saw a speeding truck and got scared half to death, ran up a tree and didn't come down until the next morning, isn't it funny?
B: Lolzzz. Poor kitty.
lolzzz by    October 9, 2008
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omg i stayed the night at dans house last night and while he slept he was like "lolzzz"
Related Words
Laughed out loud so hard that you fell asleep
Rick: And then I was all like "as if lady!"

Allan:LOLZZZ

Rick:yeah? you like that one?

Rick:Allan?

zzzzzzzz
lolzzz by jawawow April 14, 2010
Mocking way to express the more colloquial “lol”. Invented by John Merranko.
“Did you hear that Nick Urban pooped on the shoulder of the parkway during rush hour!? Lol!!!”

“LolzZzZz!”
LolzZz by SergeiGonchar55 August 3, 2022
a form of lol, except much funnier than anything that has happened that day
yo man i joke a funny joke
the one about the horse?
ya
lolzaz!!!
lolzaz by mcbeasten June 20, 2010
lolzz or lolz means lol but just a newer version. It's a more exciting less overused version of lol or you can use lool
instead of
Person 1: He was being a twat!
Person 2: lol

You get
Person 1: He was being a twat!
Person 2: lolzz
lolzz by Mollzyy February 18, 2008

LolZzZZz 

LolZzZZz is just another way of saying LOL or the very simple LOLZZ but in a more extreme way . It shows more of histerical laughter then a simple "hehehehahaha" . Actully , this internet slang was created by a typo .
Chad: Hey Chrisy <3 , holy shit i jus got pwned
Christina: LolZzZZz hehehe
LolZzZZz by ChadzGirl14 June 20, 2009