The clip comes from the long internet habit of writing lol over and over to show laughing in text, here performed out loud for comic effect. As soundboards and meme edits spread, short reaction laughs like this became easy shorthand that needs no setup or context. The extended spelling and smiling emoticon in its original upload title reflect early chat and forum humour. It remains popular because the meaning is instant, the length feels deliberately excessive, and it can be dropped into almost any funny situation without explanation.
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An extended lolololol laughing sound effect of someone cracking up, commonly used as a funny reaction for jokes, fails and meme edits online.
This is a close, drawn out burst of laughter built around the repeated sound of lolololol, stretching for several seconds without stopping. The voice rises and falls as if the person has completely lost control, turning a simple text laugh into an exaggerated vocal performance. It sounds gleeful rather than mean, with the repetition making it feel more absurd the longer it goes on. Listeners instantly read it as finding something ridiculously funny, which is why it lands so well as an over the top reaction to a joke or mishap.