I have been using emoticons for awhile in my posts but I did not about the breadth of them until I read about them in Scott McNulty’s book, Building a WordPress Blog People Want to Read.
Scott points to WordPress Codex’s helpful document, Using Smilies. Now I know how to LOL.
You can also replace the emoticons with your own set by replacing the files in wp-includes/images/smilies. You just have to use the same file names.