A smiley, or emoticon if you want to sound all smart, is a tiny AsciiArt picture that represents the expression of an emotion in a medium where people can't see each other's faces. 

''FWIW :)'s r :('d upon here IMHO, LOL!''

Most common are the sideways smileys:

	:-)  :)  8o)	smile
        8)   =]         less common stylistic smile variants
        >:-) >:) >8)    devilish smile (horns above smile)
	:-D  :D  =D	laugh
	;-)  ;)  ;>	wink
	:-P  :P  :p	Tongue sticking out; "Thppt!"    :-P~~~~ (longtounge version)
	:-(  :(  =(	frown
        :-o  :0         confusion
        :-S  :S         mixed emotions/wry expression

Using 8 for eyes sometimes indicates wearing glasses or being wide-eyed, other times it is merely a stylistic variant.

The basic sideways smiley was recently (2002) documented to have been originally invented by Scott E. Fahlman at CMU in 1982, see http://www.cs.cmu.edu/~sef/sefSmiley.htm
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There are countless variations that are not in universal use and not obviously interpretatable by all, and therefore may not communicate anything, depending on the audience, such as:
        :@              ThwaMp! (?) Or a pig snouted nose
        j )             Marylyn Monroe wink

Recently, a certain class of unrotated smileys have come into common usage:

	^_^  ^^		Japanese anime smile, suggested by closed eyes.
			(also: ^_- winking face, ^_^; embarrassed, @_@ frustrated)

''From what I have seen, '@_@' is not "frustrated" but rather something like extremely confused. It can also be used to acknowledge that one has just said something rather nerdy; "nerd" characters in anime are often drawn with thick glasses that have swirls on them, with no actual visible eye.''

(Also: ^^/ waving goodbye, ^^b thumbs up, ^^p thumbs down, ^^v flashing the 'peace' sign)

	O_O		Face with big eyes, also arguably anime.

	o_O		Confused, surprised or disgusted.

	>_<  >.<	Eric Cartman angry-face

	-_-		Upset

	;_;  T_T	Crying

	=^..^=		kitty-cat

	>^_^<		AsciiKitten

	.\ /.		frown

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  *  *
   U        Sparring partner

''What the heck? I don't see it...''

On "anime-style" faces, multiple underscores used in the "mouth" intensify the intended meaning; this is often exaggerated for comic effect. (But note that ^_^; is usually intensified with multiple semicolons instead.) A dot can be used for the mouth instead of an underscore, to be "cutesy". (But note '>.<' as an exception to that.)

-- Just a bunch of observations from KarlKnechtel, who has a lot of Asian friends online who use these things all the time. ^^;;

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The traditional :) probably doesn't indicate so much that the writer is smiling, but that he expects the reader to smile and recognize what he has just said as good-hearted or a joke. That being said, particularly impolite people can use them to appear respectful when they're really not, as in EraserPhrases ("with all due respect", etc).

Some people refuse to use smileys, on the grounds that they're a symbol of immaturity like the AgeSexLocation check. And while they may be out of place in business documents, newspaper articles, contracts, and other formal documents, they are absolutely indispensable when flirting through AolInstantMessenger. :P

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Serving the function of smileys in the LojbanLanguage are some rigidly-defined AttitudinalIndicator''''''s, which are agreed upon by all Lojban-speakers, and which can be spoken aloud as easily as they are typed. This is probably good for people who aren't good at expressing their emotions facially and tonally. ''Example: mi klama - I go. mi klama .ui - I go :-), although the sense of :-) meaning 'you smile now' is .uidai - you are happy. Often translated as 'I go and I'm glad' or 'I'm glad that I go' rather than 'I go :-)' or even 'Yay! I go!' which are more appropriate - I'm glad that... is better expressed with a brivla. (In this case, "mi gleki lenu mi klama," I'm glad that I go.)''

And don't forget C''''''harlieBrown's explitive, ''rats!'' <:3 )~~~ <:3 )~~~ <:3 )~~~

Or CeePlusPlusLanguage's private member:  8======>