LOL is an acronym commonly used in text, chatrooms, instant messaging, SMS and other means of communication.
LOL simply means "Laugh Out Loud". It also has many versions such as "LOLZ", "LUL", "LULZ"and "LML".
Other text acronyms that are similar to LOL and common in our world today include:
LMAO: laughing my ass out.
LMFAO: Laughing my fucking ass out
ROFL: Rolling on the floor laughing.
PMSL: Pissing myself laughing.
On March 24 in 2011, LOL, along with many other acronyms, was formally recognized in an update of theOxford English Dictionary.