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1. LEL
- Unlike what many people think lel is not an acronym in the same fashion that LOL is (it does not mean laughing extremely loud, laughing extra loud or similar). Lel (and variations including lal) resulted from the use of random vowels substituted in place of the 'o' in LOL. These vowels were used in an attempt to be different from the millions of internet game ♥♥♥♥. The word however, in essence, still means LOL.
guy1: generic xyz funny comment
guy2: lel
guy2: *explodes*

2.) lel
- Always in lower caps. Used when someone finds something derisory or pathetic. Its use depends on the mood of the user: the more bored they are, the more they'll be inclined to use it.

Pronunciation: lɛl
Etymology: lol, with the o replaced by an e. The reason is phonetic: lel, when pronounced, seems a bit more sarcastic.
A: I watched a censored porn movie last night
B: lel.

A: I + 2 = 3, and H - 2 = 5, (random bs that lasts for 2 pages) thus I + H = 2
B: lel, took me a while to realize you were trolling.