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It's like a hello and a lol merged into one. Used often to "make fun" of someone without them really knowing it.
Someone with a weird nickname joins an irc channel.
"Hellol"
A subtle sledge in their direction.
by heeeysa September 29, 2003
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Yet another creative extemporisation of LOL.

Typically surreptitiously used as a greeting to individuals unaware of the disturbing world of internet chat subculture.

After said usage, one often thinks to one's self "lol".
Attractive Woman: "Excuse me."
Nerd: "Hellol"
Attractive Woman: "..."
by Grae September 29, 2003
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