To laugh is a natural quality of innocence, and to feel happy is a reflection of the purity of the soul.
Each ego is a machine that traps qualities of the consciousness. That is why we confuse the consciousness with the ego. The ego is just mechanized, animalized consciousness.
It follows then that there are many egos related to laughter, humor, even "happiness," but in this case the emotional expression is not from innocence or liberated consciousness, but from some desire, anger, lust, pride, etc.
To tell the difference in yourself requires much observation and meditation, because on the surface each ego can appear quite harmless.
“Nothing is easier than self-deceit. For what each man wishes, that he also believes.” —Demosthenes
"Do not worry; cultivate the habit of being happy." —Samael Aun Weor