The Laughing Cow is a brand of cheese products made by Fromageries Bel, and in particular refers to the brand's most popular product, the spreadable wedge.
The cheese is a blend of cream, milk and fresh and aged cheeses, particularly comté

Comté (cheese)

Comté is a French cheese made from unpasteurized cow's milk in the Franche-Comté region of eastern France.Comté has the highest production figures of all French AOC cheeses, making around 40,000 tonnes annually...

, which are pasteurized

Pasteurization

Pasteurization is a process of heating a food, usually liquid, to a specific temperature for a definite length of time, and then cooling it immediately. This process slows microbial growth in food...

 to stop the ripening process. Versatile and portable because of its pasteurization process, Laughing Cow can remain unrefrigerated for a limited length of time.