Means - Laughing out loud
Usage - "Miss Downing dropped her folder, LOL"
Yoofspeak has briefly dunked its word-savvy head into the watery bucket of written-word terminology before, but the last decade has seen the rise of texts and instant messaging to such a point that what started as quick abbreviations for a new conversation format have become used in general language. Pupils are now actually saying LOL (pronounced "loll") to mean laughing out loud (although they rarely are). Laughter gone up a notch? Then it's upgraded to LMFAO (you'll hear "lim fow") to mean "laughing my fucking arse off". Things getting seriously amusing? Watch out for ROFLMAO ("roffle mow"), meaning "rolling on the floor, laughing my arse off". Kids screaming with laughter around you? Then your skirt is tucked into your knickers and you're standing right next to a LOLcano. Careful you don't get burned, LOL.