-you would laugh
The word reiríais is the conditional form of reír in the second person plural.
See the full reír conjugation
No quería decíroslo porque sabía que os reiríais de mí.
I didn't want to tell you 'cause I knew you'd make fun of me.
Si hubieseis estado allí, os reiríais tanto como yo.
If you had been there, you would have laughed just as hard as I did.
Ya os dije que os reiríais.
I told you you'd get a laugh.
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