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1.
Too look cool, tight, flashy, etc.

Originally coined by The B.G.
"I stay flossed out all through the week, my money long, oh you don't know i'm the B.G."

- B.G - Bling Bling
by Altai January 18, 2010
 
2.
Meaning that a person is fake or just shady about a situation
fuck man Kolton is flossed out..i knew he didnt go to that party
by J-Citty October 05, 2008