Sarcastic; satirical way of taking the mick out of someone ((by adding it into your sentence)) who uses copious amounts of text talk and or who says frighteningly obvious things esp. on messageboards/chatrooms/msn. See ZOMG
gr8m872: OMFG!!!!! me n mi m8s wr at the cncrt lzt nite nd it ttlly r0cked. Wt a mint - brb!!! <3
Random person: ZOMFG!!!!!!1111oneoneoneeleven U went 2 c da show???? lolly lolzars BBQ!!
gr8m872: Stfu l0ser
Random person: O rly?
A person who is a loser, and has a face. Generally this person just fails at life and will never be sucessful because he/she is a loser with an ugly face.
Person One: Sorry I'm late.
Person Two: Looooozah fayyycce.
Person One: No you idiot, it's loser face.
Person Twp: LIES it's looozah fayce you loozah fayce.