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1.
When a person during a game of beer pong exposes places their testicles above their belt buckle, then periodically pulls up their shirt to flash their testicles to distract the other team.

Originated at: Kent State University (golden flashes)
"Brett put that golden flash away were tryin to shoot here!"

"We missed that re-buddle because of the golden flash."
by A-Schlegel April 27, 2009
 
2.
When you urinate in someone's anus and they fart
The homos liked giving each other the Golden Flash.
by liberalsuckforever2014 May 11, 2014
 
3.
.... wait what is a flash? who the hell even knows!
Go Zips!!! and ... that bird with teeth, what is that supposed to be anyways? what is a golden flash?
by zainea13 December 10, 2009