)from Silent Night.The subject is "Lieb'", but it is a poetic contraction of "die Liebe", leaving away the final -e and the definite article (in German, though not in English, mandatory in such a context), so the phrase is not easily understood and it might well be a statement about a person named Owi laughing "in a loveable manner" (the adverb "lieb"), although the rest of the sentence still makes no sense.