A food that has barely been eaten and sitting on the top of a garbage. This is perfectly ok to eat as long as no one catch you. In "Seinfeld" George Castanza is seen eating a garbage floater by his girlfriends mom
Dude #1: I just had a soft pretzel i found in the garbage.
Dude #2: Gross man! that's disgusting.
Dude #1: Calm down it was a Garbage Floater.
Dude #2: Oh ok that's alright.