Originally meant to abbreviate the phrase "laugh out loud" when something was
funny, now it just basically abbreviate "i have
nothing left to say, but i dont want to think im going to ignore you, so heres a
small 3 letter word to remind you im not ignoring you".
Guy
1: so me and Joe were at the zoo the other
day and we saw a
rhino give birth. pretty amazing.
Guy 2: lol
Guy 1: My fish just died.
Guy 2: lol