A classification of a relationship. Something more than friends with benefits but not necessarily exclusive. It's basically being exclusive with one person but you have a built-in 3 strike random hookup policy. It's for those who want to be exclusive but tend to get into trouble...so it doesn't really make sense; like jumbo shrimp.
The target audience is long-distance couples.
"So how long have you guys been dating?"
' - Whoa, dating? No, we're just jumbo shrimping.'