lolfagn00blol Share definition Flag the act of laughing over and over while calling someone a n00b and a fag, a homophobic gamer term. "Dude i totally forgot to keep making villagers" "LOLFAGN00BLOL!!!" lolfagn00blol by Snow_Ice_ December 15, 2008 0 0 Get merch Get the lolfagn00blol mug. Buy Now — $32.95 See more merch