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lolpants 

lolpants is a substitute for "lol"

It is usually used when the thing being loled at is not what you want to happen, or is annoying, or rubbish, or perhaps inconvenient for someone else.

Can be used a perfectly legal alternative to lol

Very useful
Friend: I fell down the stairs
Me: Lolpants

Me: I am so alone in the world. I have no friends.
Them: lolpants

etc...
lolpants by Jon Bz0r February 20, 2008
Related Words
The expression used whenever you see a noob get completely and utterly pwnt™ in a situation you could have prevented
Noob: Hey, is this safe?
You: erm... yes...
Noob: *pokes* *dies*
You: lolpain!
lolpain by Susan™ October 13, 2006