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A picture taken on a mobile/cell phone that is instantly funny.

Named after its likeness to a Polaroid picture in that it is small, instant and depicts a moment in time that may have been missed (a funny one in this instance).

*Can also refer to a picture you recieve on your phone that makes you LOL.
Fred: Check it out; i managed to get a Lolaroid of Matt bailing off his bike!

Pat: Lol!


Pat: Jim sent me a Lolaroid of Alex covered in his own barf from last Saturday's party!

Fred: L-O-L!
by pseudoanonymoses July 30, 2009
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