I firstly start off with a regrowth pendant and a hp pot as it ensures long lane sustainability. I do believe that a faerie charm and 3 sight wards is ok, but may be very hard staying in lane considering how verry fragile you are in early game. Another way to start ur beginings is to go boots and 3 hp pots. But for new players who love to overextend and repeatly man-handled by the opposing forces, stick to the hp pot and rgrth pendant. Suggested lanes is preferrably bot with ur ad carry. If you plan on going ap lulu go mid with boots and 3 hp pots.
Lulu's Main Core item build should be Ionian Boots of Lucidity , Nashor's Tooth and Shurelya's Reverie. Why do you ask? Because it provides all the areas lulu is lacking; that is:
Early mana problems, Long Cooldowns, movement and hp. If you reach all this items by the 20ish minute mark, the game should be close to being over, if you are still in the game this long, get urself a AoL to provide more benifit for ur team and more survivability to yourself. After that you can either get a Fon first for movement and mr or a Warmong for survivability and sustainability.
Flash is a no brainer here, you already have a movespeed buff spell and coupled with ur item choice i provided above, you dont need anything else but this.
Clarity, I take it for neccessary early game harrasment/protection over heal as it will solve lulu's early mana problems at the begining of the game. A good early game is a good late game.
Heal: If you think you cannot absolutely survive with a regrowth pendant and a hp pot and love to get hit by a volley of rangers, by all means take this.
Head to bottom for support, head to mid for Ap carrying.
Leech xp, hide in bushes and provide 100% support to your ad carry if you are bottom, last hit at mid til lvl 3-5 and start harrassing in between if u want to ap carry. It is highly reccomended that u support the ad carry at bottom as that is what lulu is made for.
If you stumble upon a heavy ad carry harrasser such as Miss Fortune, Ashe, Corki and Graves, Just spam ur Glitterlance at a distance and keep ur ad carry on 'Help Pix' steroids and hopefully your ad carry has some competance on using that buff to its best of its ability as they will out damage the enemy carry. Another way of harrassing the enemy is to cast 'help pix' on a friendly or enemy minion and immediately casting Glitterlance on the enemy heroes as this increases the range of Glitterlance making it verrry verry op. When u have enough money for a pendant and boots head back to the fountain and get them. When u get to a point roughly around level 5-6, you can begin to happily harras without worries. During this time, there should be a jungler gank or opening for your to secure a kill if u have harrassed them enough to roughly half their health. If u see the chance of a kill, PIX your ad Carry, WHIMSY the enemy AD carry first or the enemy whos half hp and spam ur glitterlance from the ad carry engagement. If your ad carry is battling it out very closely to the enemy u can help them out by throwing down ur ult to secure a definate kill.
By now you should be able to have at least 1 enemy tower down, your boots, half of nashor's tooth completed and half of Shurelya's Reverie completed. Depending on your choice, complete one of them. If you want to move faster and have more survival get the Shurelya's. If you want to have more damage and spamage get the tooth. Your main goal is to now move away from your ad carry and follow at least 2-3 heroes who are bunched together, you are crucial for team fights. Let your ad carry farm bottom and focus on leeching xp out of team battles. In team Battles, you should ALWAYS whimsy the enemy That outputs the most DAMAGE, and PIX your ad Carry. A reason to Whimsy the enemy and not your OWN ap carry (unless its veigar/Leblanc) is because u completely disable all of the enemy's attack for 1.5 seconds at level 1!! thats attack and spells! so whimsy their ad carry or ap carry. For your Ultimate Wild Growth, use it on your Bruiser as they will dish out a good amount of damage as well as tank the good amount of damage. You can use wild growth offensively and defensively. Think of it as a semi-shen Ultimate but has SLOWING AOE proterties and a AOE stun.
Late Game: Alternate between hp and sustainability or Magic resist and Movespeed, By now you should be either winning or losing horribly. Same as usual save ur whimsies for the enemy or use it on a hero chasing down an escaping enemy. spam ur PIX on ur allies and spam your Glitterlance to slow down opponents.
More to be updated in the few days..