
A history of Lolrus.
It all goes back to a few memes, in particular, “I has a shuvel” eventually became “I has a bucket”, “Nooo, they be stealing mai bucket” and the insane popularity series of bucket pictures that resulted. The phenomenon of walrus and bucket related pictures became lolrus. Lolrus is to walrus as lolcat is to cats.
That’s it, in a nutshell. You can read up more on Encyclopedia Dramatica, though I’ll warn you – that place is written to be offensively funny.
I clearly know too much of this stuff. lol. Especially considering I don't go on 4chan myself.