A bastardization of the term lol. Although it's exact etymology is not known, it's believed lollz was originally used to make fun of those who not only abuse leetspeak, but just the term lol in general. Usable wherever lol is.
Lollz, that was funny as hell.
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referring to lolling, or lols (laugh out loud). a cinnamon rolls and lolls
Stephanie said "i created it"
I reply "cinnamon lollz"