Upon examining the title of this guide your conscience was likely swarming with thoughts, apprehensions, or perhaps you were enraged by it's implications. Maybe you dismissed it on your first passes, overlooking the intense power that these concepts have to offer. Are you that season 3 veteran who bought Lulu the day she was released in 2012 (with RP of course cause you aren't a cheap bastard like me)? Who am I to counsel you on this freakishly adorable and ruthless Yordle of doom? A diamond player? omgvoyboyisthatyou? Nope. I am neither a diamond player nor Voyboy. A heretic I may be, but a Lulu fanatic none the less. I have built Lulu in every possible way you could imagine since I got her in season 3: Tank Lulu (my personal flavour), AP Offtank, Glass Cannon, ADC, etc. This guide isn't detailing the one and only way to play this champion, it is suggesting the opposite; there is no one best way to play a champion. This guide merely details one overlooked facet of this cutie's potential, helping those who wish to dabble in the dark side of the Fae Sorceress but don't know where to start.

Pros:
Good Mid/Late game.
An adorable cackle.
Contributes heavily in teamfights, yet do well in 1v1, with both sustained and burst damage.
Gamechanging ultimate, multi-person slows, a barrier, and a polymorph.
Stupid amounts of crowd control, especially when building her blue.
Players usually underestimate her power.
She can be built to accommodate almost any situation.
High base spell damage.
High mobility with Whimsy.
No really, that laugh though.
Cons:
Low Sustain.
By no means an easy champion to master.
Doesn't snowball like meta crit-chance ADCs.

I prefer exhaust & flash when botlane. Exhaust gives you an advantage against tower dives and ganks, it also can help you secure kills in tough exchanges. When in other lanes, or if your support takes exhaust, take heal.
+ or +

Don't play this build in ranked unless you are utterly confident that you have mastered her kit and have worked out the build to your liking. I would not feel comfortable playing Blulu in place of a meta crit-chance ADC as they are too powerful in S4 to exclude. Though it is a viable choice in normals, it is too risky in ranked and should your laning phase go sideways a crit-chance ADC could turn the game around and snowball very quickly.

Farming is easy with Lulu's passive. Don't attack through minions, they will tank pix shots directed at the minion you are trying to last hit. Try moving around the wave to make full use of the pix passive. A skilled Lulu can last hit two minions with one auto-attack if used effectively.

Use Glitterlance to poke before and at the start of teamfights. The slows force the enemy team to either commit or panic. The latter you will use against them. More often than not the enemy team will react hysterically to the titanic amount of surprise cc you will be pulling out of your hat; this gives you and your team time to poke them down to the point that they will not be able to win a full fledged teamfight. If a teamfight does happen, you must quickly anticipate whether using 'Help, Pix!' to burst down a key damage dealer or shielding an ally from damage is more beneficial. This decision alone can determine the outcome of the fight. Try to save your ult for situations where knockups could interrupt enemy abilities or assist with a friendly Yasuo.