To have loud, inappropriate, cheeky, humorous, outrageous and banterous behaviour.
"Ripping" is an activity undertaken by a rowdy and obnoxious group of men whilst drinking.
The word originated in South Wales(UK) and can be often seen when groups of 3 or more young males (stereotypically) join with hopes of having a "banging" night out.
Oi buht you should have seen me ripping last night in weatherspoons
I was rackin' up on the slot machine all night then I fingered ionäwr round the back infornt of the bois