To tease or flirt with another person, as well as the other person reciprocates and teases/flirts with you. Used to describe your experience with a friend or colleague about the person you met or the talk you had with the person.
Can also be defined as two guys just having a good time as well as two girls having a good time.
Hey, I absolutely had a great time with this girl I met last night. We connected and we also slapped it out, it was great!