Put it at the end of a joke setup as the payoff, then follow it with Woody Woodpecker Laugh for a second cartoon reaction, or cut to DJ Airhorn Sound Effect when the edit needs a bigger finish.
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This is a short hehehe laugh from Peter Griffin, delivered as a repeating chuckle that keeps going after the joke has landed. It feels cheeky, smug and deliberately silly, like someone proud of a line nobody else finds clever. The laugh comes from Family Guy, where he is the main character, and it is widely reused in memes and reaction edits.