A lot like a flashback, but the memory that's pulled up is a heavily romanticized version of what actually happened. Usually involves two males and occurs most often in the twisted minds of yaoi fangirls.
Flashback:
Guy 1: Hey man, you all right?
Guy 2: Yeah, I'm fine. Thanks.
Slashback:
Guy 1: Darling! Are you hurt?
Guy 2: I'll be fine now that I'm in your arms, my love!
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Somebody who is going through a slashback remembers recurring times they've been hit or slashed by someone.
Poppi: ay guys I think I'm getting slashbacks
Ben: Dont ya mean flashbacks?
Poppi: No slashbacks!!
Slashback is a handsome boy. bro is terrified of everybody though.
I love you slashback....