Laugh Out Loudz

ie. LOLz as defined:
v. (1) Easily audible laughter accompanied by waving of the hands followed by jumping jacks, a bow, a double backflip sideways handspring, and may also feature one or two somersaults.
v. (2) To laugh hysterically.

Tim: *Insert Humorous Joke here*
Bob: Haha, Laugh Out Loudz!