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A term used to express simultaneous confusion due to a presumably inaccurate, misinterpreted, or absurd statement and laughter, nearly always due to this aforementioned PIMoAS.
Rebecca Black: The internet respects me and can't get enough of my phenomenal musical and vocal abilities.

You: Lolwhat.
Lolwhat by SixteenBS April 4, 2011
Related Words

LolWhat? 

Used to describe surprise and confusion when someone tells you something or you overhear something that is funny or out of the ordinary.
Person 1: So did you hear that Scott and Meagan went to a concert together last night?

Person 2: LolWhat??
LolWhat? by MtOaNyIlCoAr June 14, 2010

lolwhale 

Funny on a scale of whale sized awesomeness.
lolwhale.
lolwhale by Nahlla July 11, 2010
Synonymous to lolwhat, implies disbelief to the point of absurdity, where even something that actually happened cannot be believed. Generally followed by rage or a facepalm.
"The price of gas rose today on predictions that the market price for gas would go up ... lolwat?"
lolwat by Diet Right March 10, 2009
expressing laughter and disbelief or confusion at the same time
person one: i just ate a rotten peach.

person two: lolwhut?
lolwhut by megaphonium January 12, 2010