lil mad is like big mad but the opposite, you mad but not mad to the extent of pullin somthin

laughing outlandishly out loud

acronym for "laugh outragously out loud".. a step up from, 'lol'.

A cool loud laugh.
It has been derived from LOL and a simultaneous feeling of ice sliding down your back.

Laugh Outrageously Out Loud

Its a typo.

someone attempts to type 'lol'

And suffers from FFS (Fat Finger syndrome in ths case)

That person is then mocked, but it catches on, and becomes synonymous with them on that forum/discussion board.

an example smiley..
tehpix.com/tehpix/files/1/lool.gif