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It is to laugh so much you orgasm.
Whats that mess over my new carpet?
John just had lolgasms.
Lolgasms by TheKingOfThisWord January 28, 2009
Related Words
the climax of a lollified experience
right around "then he popped out of the bushes and was like HEADSHOT!" is when I achieved lolgasm.

lolgasmic 

Simply meaning, fucking hilarious.
No pun intended. :P
Guy 1; Oh lord of the fail, take Imi's soul and fail it hard and fast, to the depths of failhell, Amen.
CAN I GET A HALLELUJAH?!
Guy 2; HALLELUJAH! That's lolgasmic!
lolgasmic by Caitjuss January 23, 2009
an abrupt fit of laughing, usually involuntary
"OMG that was so funny i might have a LOLgasm"
LOLgasm by big_ben100 July 28, 2009

Lolgasmic 

A feeling that can come from laughing or the feeling when your having a lolgasm
"Whoah good one!"
"Yep, i'm getting a lolgasmic feeling, haha"
Lolgasmic by Mattaldinho March 31, 2009
person1 "im not gay"
person2"tell that to ur asshole"
person2"lolgasm"
lolgasm by twitchdbm September 4, 2007