Like the word Jap, or Chink, "Flip," was originally created by American's, with the same intention to belittle people from an Asian nation. In this particular case, people from the Asian Pacific island nation the Philippines.
Flips like to eat fried fish.
Watered down appropriate version of the word "Fuck" and in close relation to "Frick"
"What the flip dude those are my goldfish"
When you and the homie tag team a female. Threesome.. Foursome. Originally used in the Detroit area
Yo man, I got this hunny that wants to get flipped. You down?
Someone who e-dates and doesn't respect the unwritten law "bros before hoes".
Dude, you know Justin? Yeah, he's e-dating that chick. What a flip.
derogatory term for filipinos you dislike
"some 5'3 filo steals the ball from you while playing basketball"
"fuck you flip"
That bitch, Shannon, was fucking up. I got them young boys to flip her.