When you're texting your friend replying with a lol, and then continue on with your own comment and/or joke, and add another lol at the end for emphasis.
Bobby: Yo did you watch last night's episode of American Crime Story? Shit was bananas.
Suraya: Lol yeah it was good, but I still hate David Schwimmer lol.
When two girls, usually close friends, pretend to be lesbians. They make comments about their sex lives together, and make awkward sexual advances toward each other. However, they are not actually lesbians or sleeping together. Nothing sexual every actually happens between the two of them.
Combines the terms 'lols' and 'lesbians'