A Flaccid Vagina is basically a vagina that's no where close to being aroused. It could also be a virgin vagina that's never been wet before or fingered or has felt an orgasm. It's fresh and soft like your grandmother's freshly baked homemade buttery biscuits.
It could also refer to a gay male who's anus is also a virgin.
"I'm a total virgin. Guess I'll be having my Flaccid Vagina for a longer time."
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Vagina lips that aren't erect
"Her pussy was nice besides her flaccid vagina lips"