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1. The second song on Tom Waits' 2004 album, Real Gone.

2. A sentiment based on the lyrics and tone of that song. To tell some one to 'Hoist That Rag' is to tell them that life is shit, but to stick it out.
God used me as hammer, boys
To beat his weary drum today

Hoist that rag

Hoist that rag
by Frank Rider August 22, 2009
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2
A phrase used in Kevin Baker's book "Paradise Alley' by rowdy theater goers. When they tired of waiting for the show to begin they began to chant 'Hoist that rag'.
A football coach to his team just before they leave the locker room:"It's time boys! Let's hoist that rag and get this thing started!"
by The Ghost of Thom Joade January 16, 2016
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