LOL for Laughing Out Loud, BRB for Be Right Back and OMG for Oh My God are examples of some of the most popular texting acronyms. Other popular examples are IMHO for In My Humble Opinion and LMAO for Laughing My Ass Off.
Texting acronyms are shorthand for commonly used phrases that allow the user to save time when texting. Other examples are BTW for By The Way, GR8 for Great, and THX for Thanks.
Texting acronyms are often created from the first letter of the words in the common phrases. However, some, such as L8R for Later, U2 for You Too, B4N for Bye For Now and 2moro for Tomorrow, don't follow the rule as they use numbers instead.
Acronyms are also used where the full phrase is considered impolite, rude or vulgar as in the popular acronyms WTF, SH and FU. Some acronyms save time on opening phrases such as ITT for In This Thread, IRL for In Real Life and OT for Off Topic.
Some texting acronyms are acceptable and commonly used in formal settings such as AKA for Also Known As, FAQ for Frequently Asked Questions and RSVP for Respondez S'il Vous Plait which is French for "Please respond."