Take a picture of a cat doing something cute. Then make up a caption--something witty that the cat would be saying if cats could talk. Bear in mind that cats can't spell all that well and that they're not so hot on subject-verb agreement either. Photoshop the caption onto the image, and post your creation on a blog. What you get is lolcats: lol for laugh out loud, cats for cats.
What you also get is the reigning instance of an Internet meme, a running gag that won't stop running but instead reproduces and mutates in the petri dish of the...
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