Now, when used in actualy physical conversation, is a reference to an event, object, act, or thought, that is so stupid it could only be found on the internet.
"LoL, you're an idiot."
Steve: "Ell-oh-ell"? Jeez I didn't know you were so preppy.
Craig: Lawl Steve I told you she wasn't your type.
Jenny: Oh-em-gee double u-tee-eff??? What makes me not your type???
Craig: Do you even know what lawl means?
Jenny: FINALLY SOMEONE UNDERSTANDS ME!!!!!
(Jenny and Craig make out, while Steve hooks up with a cooler person, who pronounces lol correctly.)
first use : yes, its expencive lol
second use: yes, lol its expenive
instead of ''yes, its expensive tough''