Guy 1: Some guy just landed into the mud when he tripped.
Guy 2: ILAT!
Guy 1: Wtf is "ilat"?
Guy 2: "I laugh at that"
Guy 1: Can't you be normal and say "lol" instead of making up random acronyms?
This stands for "I actually laughed at that". It is an alternate version of lol or rofl and is used in certain situations when something funny is said, but saying lol would cheapen the effect of it.
A new, classier alternative to the traditional lol. It lets your conversational partner know of your amusement at his or her humorous comment without resorting to the stereotypical chatspeak of lol.