The further bastardization of the word laptop.
The word's origin is thought to be a typo of the already incorrect labtop.
The mistake was unexpectedly embraced -- airhead teenage
girls and one wannabe L337
asian teen rejoiced in the purchase of their new "labtob" notebook computers.
Utterance of the word typically precedes a swift blow to the face with said
computer.
Eric: I just got a new labtob. It can hack into the Pentagon and
beat you at Starcraft at the same time.
Me: Laptop.
Eric: No it's labtob.
Me: Lap.
Top. It sits on the
top of your lap.
Eric: Mine is faster than yours.