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Lollapalost 

The act of getting seperated from your friends or significant other at Lallopalooza. This is either due to having to use the port-o-pot or being too inebriated from booze and/or illicit drugs.

Also, the act of losing something of value at Lollapalooza.
Example 1

Stranger - Hey dude, are you OK?
You - No, I had to piss and left my bros right here about an hour ago.
Stranger - Oh man, you sound Lollapalost!

Example 2

Friend 1 - Dude, where is your other flip flop?
Friend 2 - I Lollapalost it in Perry's tent. Deadmau5 was off the chain. But I got this honies digits so its coooo.
Lollapalost by Lollapaloser August 16, 2011
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lollapalooza 

A tour that Nirvana was supposed to headline in 1994. I think we all know how that played out.
Kurt Cobain's death cast a dark shadow over Lollapalooza 1994.

Lollapalooza 

An annual music festival which was established by Jane's Addiction's Perry Farrell. Ran annually from 1991-1997, restarted in 2003, restarted again in 2005-present. Used to showcase many bands of the rock/metal/alternative/indie genres, and even featured some rap artists. In its earlier years, (91-97) its success was helped by many famous and enjoyed bands at the time, such as (but not limited to) Soundgarden, Primus, RHCP, Metallica, Korn, Tool, Green Day, Audioslave and Sonic Youth.

In recent years, it has lost popularity most likely blamed on unheard artists or Guitar Hero competitions onstage. As of 2010, Lollapalooza will most likely be known as 'cool' by the pop culture, thanks to Lady Gaga crowd surfing nearly naked. I, like many fans of the genres mentioned above will continue to enjoy Lollapalooza, but not without losing respect for the festival. This decline in respect will most likely be blamed on mainstream pop artists joining future lineups for the festival, following Lady Gaga's spectacle.
Guy: Dude! You wanna go to Lollapalooza with me?

Dude: Nah man, that place is garbage now.

lollapalooza 

Jane's Addiction frontman Perry Farrell introduced most of us to the word "lollapalooza" -- a slang term meaning "something or someone striking or unusual."
that is so lollapalooza.
lollapalooza by amy lin July 7, 2005

Lollapalooza Cap 

A haircut from the 90's that consisted of a shorn lower half and a long ponytail on the crown on the head. It is sometimes referred to as a tellum, but not to be confused with scene hair. While usually spotted on white trash it is not relegated solely to white folks. Remember the dude from Living Colour? He had a Cap with dreads.

So why does this hairstyle still exsist? Please do the rest of us a favor and shave the top part of your head if you still have one. Oh, and Meghan thinks K-Fed should have one. Hell, he probably did.
"Hey dude, check out the Lollapalooza Cap on that Scott Stapp-looking motherfucker!"

lollapalosers

The douchebags who invade Chicago on the weekend of Lollapalooza.
The train was crowded with Lollapalosers.

lollapalooza 

Mr.Blanko's penis is lollapalooza
lollapalooza by Mr. Blanko March 29, 2005