It is somewhat an adjective, using the same basic definition of "Lol" added "Zilla" Which came from the original movie "Godzilla"
Because of "Godzilla" Being a giant mutation, the actual feature of the character being a giant, and adding "Lol" means it is a bigger "Lol" than the original phrase itself. Expressing it even more than normal.
"Did you see that guy fail at that jump!?!? LOLAZILLA!!!!!!"
"Man this guy is a complete retard, he's so fat and thought he would be "Cool" The guy jumped on top of is bunk bed not only breaking the top but also the bottom bunk. LOLAZILLA!!!"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the USCoast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."
A sunburn or suntan focused on the left arm. It is caused by the left side of the body being the only half that gets exposed to sunlight while driving. Presumably, it would be located on the right side of the body in countries where they drive on the left side of the road.
I had a trucker's tan after driving for 10 straight hours on a sunny day.