Cryptic crossword clue
Laugh out loud, left in lounge 4

The most common and most likely answer to this crossword clue is the 5 plus 1 letter word LOLL} :

I've seen this crossword clue in The Daily Telegraph
L
O
L
L
}
:

Buddy explains!

The straight part
We know that "lounge" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lounge = loll} :.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does LOLL} : mean?

LOLL} : verb
  1. To act lazily or indolently while reclining; to lean; to lie at ease.
  2. To hang extended from the mouth, like the tongue of an animal heated from exertion.
  3. To let (the tongue) hang from the mouth in this way.

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