What is Flip-flop?
1.
Noun.
A sexual act consisting of the first person penetrating the second person for the first round. Then the following round the second person penetrates the first person.
Jason and Jake flip-flopped last night. Jason topped Jake first, then Jake topped Jason.
See
2.
A political phrase, usually contributed by an opponent, for someone who changes their position of some issue.
Practically everyone is the Bush administration has done a "flip-flop" on government regulation since their econcomy flopped.
See
3.
(n.) A derrogatory name for a Filipino (or Phillipino or however the fuck you spell it).
"Man, those flip-flops think they're all gangsta, but I bet not one of them would have the balls to fight one-on-one."