lolly-gag Share definition Flag To goof, to waste time, to procrastinate. mostly said by hipsters and old farts. stop lolly-gagging and get off that nintendo! you have homework to do! lolly-gag by la negra May 13, 2005 0 0 Get merch Get the lolly-gag mug. Buy Now — $32.95 See more merch