An extention of the commonly used LOL. This word connotes a giddy sense of laughter, rather than a more histerical type. Overused by annoying adolescense in another desperate seek for attention.
1] Lolzerz! You guys! That's totally shweet!
2] That joke was totally lame! lolzerz.
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.