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Lolcats! 

Same thing as woot. A sign of excitement especially when playing shooting games when you get a kill or something really unexpected. When you get a double kill after saying lolcats! you might say double lolcats! then triple lolcats and so forth.
Bang! Bang! Bang! "TRIPLE LOLCATS!" said Owen after getting a triple kill in Halo 3 Matchmaking.

"HA, LOLCATS!" said Srinivas after killing his enemy and then stealing his care package.
Lolcats! by Teh Besterest March 22, 2010
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An internet meme created by the anonymous imageboard 4chan (lol rules 1&2) as Caturday in 2005 or earlier, which was recently stolen by www.icanhascheezburger.com and renamed lolcats. Most of the images currently circulating have been directly ripped without any consent from the board.
Retard: OMGHAI LIEK HAV U SEEN THE NEW HOTTEST TING LOLCATS???!!??
/b/tard: Yeah, I saw it 2 years ago before it was stolen by www.icanhascheezburger.com and renamed.
lolcats by Anonymi July 9, 2007
Funny pictures of kitty cats = ultimate productivity killer.
Manager: Dude, productivity in my office just dropped to zero after Bob discovered Lolcats.
lolcats by Agent0042 December 6, 2010
Hilarious pictures of cats (or sometimes other animals) in cute and/or strange poses with a funny made-up caption. The most popular caption is "I can has cheeseburger?"
"You really shouldn't give a cat a cheeseburger."
"Dude, don't take lolcats seriously. It's just a joke."
lolcats by JennaWenna214 May 15, 2008
One of the many inside internet jokes, which consists of pictures of cute kittens, cats, and cats in funny poses, which then have captions in large (generally white) font taking up AT MINIMUM a fourth of the page. Misspellings and atrocious grammar are common, the most frequently used phrase is "I can haz cheezburger?" spelt a number of different, and all wrong, ways.

A large archive of photos, captions, and al manner of idiots who find them funny can be found at Icanhascheeseberger.com.
Did you see those lolcats? That one "haz a corm!" Ahahahahahaha!
Lolcats by Onixy November 6, 2008
A site where illiterate morons spend an extraordinary amount of time taking random photographs of their cats with the hope that they are captured doing something utterly normal that no person with a real life could possible find remotely amusing.
"What's that, a picture of a cat on lolcats doing something completely normal, that's hilarious!!!"
lolcats by reality source March 31, 2009
A term scene kids use to describe how bad their sickle-cell anaemia (or drepanocytosis) is, they also suffer from mild strokes which can result from a progressive vascular narrowing of blood vessels, preventing oxygen from reaching the brain. thus making them brain damaged which leads to their l33t typing that no one can understand.
lolcats user: Dood i haz chezburger!

translated: Someone get me my pacemaker!
Lolcats by 0wning August 9, 2009