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A better way to ask, "fish or cut bait" or "piss or get off the pot"; in other words, to tell someone to be decisive in making a decision.
Literally it probably refers to a situation where you're competing for a woman with another guy.
In other words: "Are you going to fuck her(ie. win), fight him(ie. TRY to win), or hold a light up for his convenience while he fucks her?(ie. be a total loser)"
Sort of a takeoff on the whole "fight or flee" natural evolutionary response.
John: Yo, Ron, it's your turn to bet!
Ron: I'm thinking
Ray: Enough thinking, already! Look - either fuck, fight, or hold the light!
If someone wasn't liked before, but then now he is.
Sarah: Johnathan sure is ugly.
(Two weeks later he gets new gear and a line up.)
Sarah: Daaaamn! Johnathan looks good!
Johnathan was looked at with a new light .
1. A comedian who ignores the red indicator light and goes past their time slot on stage.
2. Refers to a person who orchestrates prostitution.
3. A phrase suggesting that someone lives dangerously.
1. I flashed Jerry the red light a few times to give him a two minute warning but he ignored me, running the red light.
2. The pimp has been runnin' the red light district down town for five years and then some.
3. Darnell is too daring, he's runnin' the red lights with his life all the time. That's dangerous for my taste.
When three midgets stand on top of each other and each one has colored pubes, one green, one red, and one yellow. Then they proceed to flash their genitals in random order like a stop light. stoplightstop lightmidgetshuman
that club is awesome, it features a human stop light. stoplightstop lightmidgetshuman
A flashing light which frustrates you and therefore makes you horny.
The flashing light bulb gives me an erection
A girl that is a bitch only some of the time, and the rest of the time is a perfectly nice girl. Much like the flashing christmas tree lights that are off sometimes and then blink on, but then are off again.
Talia Hughes is a Christmas tree light bitch.
something you would say after an another individual thinks of a dumbass idea.
Timmy: Hey guys lets go to the art show.
Justin: Or we could light our balls on fire.