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1.
Something you say when something you expect to happen doesn't.
"Flibjib yo!, I thought I monkey was going to bust in the room!"
by Walter September 24, 2003
 
2.
The name given when attempting to fit your penis into somebody else's belly button. Ejaculating upon entering a belly button is considered an 'Awesome Flib Jib'
The last time i saw Jenny, I was so tempted to Flib Jib her.
by Mishka-Moondog August 31, 2012