What is Tip-it-up?
1.
A self-imposed drinking move exectuted by lifting (or "tipping") up the bottom of a glass or bottle by the consumer's own free hand, usually used to display acknowledged embarrassment or awkwardness, or sometimes just because.
When Richard was asked if he had slept with the fat girl, knowing damn well that everyone knew, he decided to tip-it-up instead of responding.
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Its origin is from an underground IRC channel. The meaning of fountainfest is probably what it sounds like, a fest around the fountain, ..
