The verb for the phrase lol. People, mainly on the internet, use it to say that they laughed at a particular thing.
Person 1: This picture is hilarious.
Person 2: (Looks at picture.) Wow, i lol'd.
Person 1: Who says that?
Person 2: lol.
Person 1: Argh, my spots just came back
Person 2: I lol'd at your face.
