So you see, YOLO is a common urban acronym meaning “You only live once.” . Now, in this particular context, the designer of this “meme” could either be referring to the pig or the player, since they seem to be the only objects in the picture that refer to beings holding life. If the pig is the subject, the narrator could be referring to the ultimate funny joke (being life) and how it’s funny how the pig only lives once and is now about to die. However, if referring to the Minecraft character (whom I suspect is the particular subject of this joke) then using “YOLO” is most likely representing an existential crisis in him, since Minecraft people are more logically inclined than pigs. However, since blockmen were designed by the Minecraft creator (Notch ) to be a satirically accurate representations of humans, one could deduce that these blockmen also feel remorse and other psychological characteristics (including our animalistic instinct to kill), thus needing to cope with it in a similar way to humans, being laughter. By saying “YOLO”, the Minecraft character copes with the fact he is an uncontrollable killer, which is funny because of the emotional contrast between laughter and death! Hope that helped 🙂