To laugh when watching porn or some other form of stimulation with right (or left) hand on your penis, rubbing vigorously in an attempt to climax your pleasure all over your computer/bitch/cousin/dog.
Dude: How was that porn I lent you?
You: The actingsuckedso bad I lolsterbated.
A device used to enhance feminine decollatage. Originally from Sweden and a favorite among celebrities, including Jennifer Lopez when she wore her infamous green scarf-dress, the loaster was introduced to a wider audience on an episode of Oprah's Favorite Things. One audience member had to be hosipitalized in the ensuing frenzy. The loaster is manufactured by Promessa Organic using a patented microfiber inspired by the silk of the Hobo spider Tegenaria agrestis.
"I have been saving up for a loaster for months! Prom's coming up and these boobies need to look their best!"