The term 'Laughing Bird' is used to describe two different species of birds, the LOON and the KOOKABURRA. The LOON is a species of aquatic bird found in North America and Europe, and is known for its distinctive call. The KOOKABURRA is a species of kingfisher native to Australia and New Guinea, and is known for its loud, distinctive laugh-like call. Both species are known for their unique vocalizations, which is why they are referred to as Laughing Birds.