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Stands for "I laughed so hard I broke all my furniture"
A long, useless, but more original way of saying LOL.
The origin of the word most likely came from a pothead that thought lol was getting old.

The breaking of furniture doesn't really occur. Just like when one says lol they aren't really laughing.
Guy 1: I kicked a kitten! Ilshibamf!
Guy 2: ilshibamf...? The hell..
Guy 3: Hey at least he didn't say lolx or lolz.
ilshibamf by Terronega May 22, 2006
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ILSHILAMFOF 

I Laughed So Hard I Lit All My Furniture On Fire. Like lol or rofl, but more awesome.
Person 1: My fiancee left me at my mom's funeral right after I found out I have cancer.

Person 2: ILSHILAMFOF
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