What does 'LOL' mean?

My maltipoo told me it meant 'lick over life'...I don't believe my maltipoo is correct. A maltipoo is a dog...It's a maltese and poodle combined....Well not 'combined', somebody didn't just smush two dogs together that would be ridiculous! I mean 'combined' as in a maltese dog and a poodle dog had ...ahem so sorry pardon my french, a maltese dog and a poodle dog 'made love' and the poodle got knocked up - i mean pregnant and gve birth to malipoos!!! I have one, and the other are god knows where...