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A posh way of breaking up with ones significant other, or a way to let someone know that you don't want to be involved. Involves giving them a high five and inquiring "High Five for Friendship?"
1) Amy, i don't know if this is working out. How about a high five for friendship?

2)Lauren: So what happened? What's wrong?
Amy: He gave me a high five for friendship!!
by crapface October 19, 2003