At a July conference organized by the Filipinas Institute of Translation "jejemon" was chosen as word of the year. The selection was made by a group of academics from the University of the Philippines. Here is an excerpt from an article about the word on GMANEWS.TV:
The etymology of the word “jejemon" is generally presumed to have started from online users' penchant to type in "hehehe" as "jejeje", either because "Jeje" is derived from Spanish, whose speakers denote the interjection as laughter, or because the letters "h" and "j" are beside each other.
The "-mon" appendage, on the other hand, is supposed to come from the Japanese anime Pokémon, with "-mon" denoting "monster," hence "jeje monsters."