Originally used as "Laugh out Loud" but now it has other uses, specifically to break up a tense mood in a conversation, try to ask an awkward question, or trying not to be rude. It is not a statement of laughter at all, rather it has evolved into an added word that makes difficult conversations more bearable through text, email, and instant messaging.
Person 1: "Hey so I saw you peeking through my window yesterday while I was undressing, lol"
Person 2: "Oh yeah..lol"
Person 1: "That's kinda creepy, lol"
or
Person 1: "Hey I just wanted to ask...were you the one that stole my wallet? It had all of my important credit cards, point cards, and my gym membership, not to mention a lot of cash,and 20 people say they saw you took it...just asking, lol"
Person 2: "Yeah, i took it and charged everything, cashed out your points, and worked out today, oh and I had a race to see how fast I could spend your money, lol"
Person 1:........lol......
Person 2: "Oh yeah..lol"
Person 1: "That's kinda creepy, lol"
or
Person 1: "Hey I just wanted to ask...were you the one that stole my wallet? It had all of my important credit cards, point cards, and my gym membership, not to mention a lot of cash,and 20 people say they saw you took it...just asking, lol"
Person 2: "Yeah, i took it and charged everything, cashed out your points, and worked out today, oh and I had a race to see how fast I could spend your money, lol"
Person 1:........lol......
by Jerm867 February 5, 2010
Get the lolmug. let’s be honest u just typed “lol” cause u were pretty bored and u were like hey let’s look up Lol... or u are a Karen and just don’t know what it means🥶
by im really not funny April 12, 2020
Get the Lolmug. 
Get the lolmug. 
To adults, known as “laugh out loud”. to kids, it is used when they are not “laughing out loud”. personally, i use lol when i’m upset.
by yourworstnightmarelol October 13, 2020
Get the lolmug. Gramps: Jimmy, getcher pants out of that whatsit and come help me with the fertilizer!
Jimmy: LOL! Grampa, it's called a computer, and my pants are not in it.
Gramps: Eh? Don't get all fancy with your 'cool cat' lingo, boy. Use the English they spend all that time teaching you in school. Why, if those silly innernets words were ever put in the dictionary, I'd start speaking FRENCH. And you know how much I hate those darned French... Why when I was your age, blah blah respected our blah blah blah....
Jimmy: *sigh...*
Jimmy: LOL! Grampa, it's called a computer, and my pants are not in it.
Gramps: Eh? Don't get all fancy with your 'cool cat' lingo, boy. Use the English they spend all that time teaching you in school. Why, if those silly innernets words were ever put in the dictionary, I'd start speaking FRENCH. And you know how much I hate those darned French... Why when I was your age, blah blah respected our blah blah blah....
Jimmy: *sigh...*
by Highly Uncreative Pseudonym March 18, 2010
Get the LOLmug. instead if saying lol you say lols and you automatically turn swag😏 || it stands for “laugh out loud swaggers” ||
by peppatheuglypig May 12, 2021
Get the lolsmug.