This is a somewhat unconventional build, but it utilizes Lulu's assets to a great extent. Recommended for aggressive laning and team comps which either lack (early) damage or require additional cc. It is also very effective versus dive comps. Season 3 has opened up a lot of possibilities for new support builds and this is one I've found to be very effective on Lulu.

Note: this is not a pure support build. It is a situational build for early/mid game aggression. Therefore do not expect to find items such as Aegis of the Legion, Locket of the Iron Solari or Mikael's Blessing here. Whilst these are all fantastic items in their own right, they have no place in this build. It relies on Lulu's pre-existing kit for support utility, rather than excessive itemisation to that end. As an overall result of this, I would not recommend this build to new Lulu players. This guide thus assumes that you already know the basics of how to play her. I will not go into her abilities or how to use them, or go into depth about anything that is self-explanatory.

Rune alternatives

A decent substitute for Mpen runes. The damage isn't much different between the two early on.

Greater Mark of Armor PenetrationGreater Quintessence of Armor Penetration

Could possibly be used if you want to prioritize AD early game. Tested to mediocre effect, but feel free to try it yourself.

Mastery alternatives

You might want to lose the 3 points in defence to gain Explorer from utility. Recommended for when there is a good chance of a level one fight/invade/counter-invade.

Spell alternatives

Good vs Shen/ Twisted Fate/ Pantheon. Only recommended if your team has no teleports.

Starting items

Sight Ward

The best bang for your buck after the Crystalline Flask nerf.

Laning items

Philosopher's Stone

'Free' wards from Sightstone; essential first buy. Philosopher's Stone is worth picking up for the gp10 and it won't set you back by much. Fiendish Codex gives you AP, CDR and Mana Regen for a very generous price. Allows you to get very aggressive early on by negating Lulu's mana problems and providing her with decent damage on her Glitterlance and Help, Pix!.

Core items

Sorcerer's Shoes provide some nice Mpen, which will come in handy during a prolonged laning phase. Frozen Mallet gives decent health and an extra form of cc for your team. Nashor's Tooth gives you the essential stats you need: AP, CDR and attack speed. The attack speed synergises with your passive Pix, Faerie Companion and helps you land Frozen Mallet procs. Shurelya's Battlesong is good for it's active, but that's about it. Pick it up last, unless your team really needs it.

Boots

Potential pick up if you're strapped for cash or if the laning phase ends fast.

To Haunting Guise or not to Haunting Guise?

I'd advise against it. It scales poorly into late game and Liandry's Torment is too much money for too little gain on Lulu. You're better off going for early AP instead and picking up Sorcerer's Shoes as a cheaper alternative for MPen. You will put out good damage with Haunting Guise, but you'll end up delaying your build.

Kage's

Kage's Lucky Pick

Worth picking up if you're really struggling to get gold. Would advise building it into Shard of True Ice for the gp10.

Additional attack speed

A potential pick up against AP heavy teams.

Has some potential, but it has no real place in this build. Nashor's Tooth trumps it quite decisively early on, for only 500 gold more, whilst Wit's End is a much more viable choice late game, since Malady has poor scaling.

Thanks for taking the time to read. Vote, comment, do whatever you have to do, I don't mind.

My summoner name is Renguí and I play on EUW. At the time of writing, I've played 64 ranked games with Lulu since the beginning of the pre-season.