A level above lolocaust, (although a lolocaust does not necessarily have to occur previous to the lolocalypse).
The lolocalypse is when something is so incredibly funny, it is capable of exterminating all humans on the planet Earth. Theoretically, the lolocalypse can only occur once, after which all humans will have been killed, and apes with rise to power. This is why it is referred to as 'the' lolocalypse, and not 'a' lolocalypse.
The 'lol' can also be replaced with 'lawl.' This simply make the word easier to annunciate the word.
Man that was funny. It almost started the lolocolypse!
Prepare yourself for this joke, guys. It could very well bring about the lolocalypse!
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2million.