1. An adjective used to describe
bullshit that makes you
laugh due to the level of inaccuracy and falseness
2. An adjective used to describe
someone who frequently lies and makes false statements to the point it entertains anyone listening.
3. The objective of the board game "Malarky"
Eric: Dude, I fucked that chick all night long.
Gabe:
LOL, that's liarious!
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Phil: I am so much sexier, smarter and cooler than you.
Peter: OMG, you are one liarious dude.