(verb)
To go above and beyond.
To beat all.
Similar to the verb "trumped"
"Hey did you see the game?"
"Yah, our team straight up phelpsed them"
To utterly dominate to the point of embarrassment of ones opponents.
Did you see how hard Michael Phelps phelpsed all of his competitors in this years olympics
To have lost a race, such as a swim meet, by an incredibly small margin by someone's final burst, such as when Michael Phelps won the 100 meter fly by .01 seconds in the 2008 Summer Olympics.
Dog, he just Phelpsed your ass!
to win by an extraordinary margin; to get money by way of your winnings. applicable to all sports, not only swimming(which shouldn't count as a sport anyway)
"I just phelpsed your shit son. Just go home."
Getting badly beaten in a race, prior to which you publicly taunted the winner by shadow-boxing in front of him on TV.
Wow. Chad le Clos really got Phelpsed in the Olympic's 200-meter butterfly final.
Getting beat by the smallest of margins, but still beat, sucker.
Dara Torres totally got phelpsed by that german chick.
If you can acheive an orgasim in less than 30 seconds, there by beating your partner or partners. They have been "Phelpsed."
I got off so quick last night, I Phelpsed that bitch!