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Lollama is a term used for describing something so funny that it would make even the stern faced llama laugh out loud.
Guy: That movie was hilarious!

Girl : I know that movie was LOLlamas

Guy: yeah! . . .wait. . . whaaat?!?!?!
by JDrizzel and his Llama quartet December 14, 2010
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another form of lol, most like created by popular kids who like to pretened that they like llamas, because they think it is cool. but it isn't.
"and then he asked me out! lollama"
by i love urbanness January 01, 2005
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