The word FLIP has come to mean the tendency for some Filipinos to go back on their word and "flipflop."
An excerpt from Talking Heads singer David Byrne's Journal:Facts talking about Philippine hero Emilio Aguinaldo as he would "flip" from side to side.

"A “hero” who fought against the Spanish colonial rule, Aguinaldo, felt that Bonifacio, the firebrand leader of the revolution, lacked the requisite military skills, and he broke ranks with him. Aguinaldo made a demand to the Spaniards that in return for peace and a promise that he would leave the Philippines a huge payment would be made in installments — climaxing in a final payment along with a public apology and the playing of “Te Deum” at the Manila cathedral.

In 1897 Aguinaldo signed the deal with Spain in a cave where he was holed up, and upon receiving the money he split, with the cash, for China (or Japan) and in the process suddenly declared his loyalty to Spain (!). What? After all that he just skipped off with the money? (To be fair, the Spanish did capitulate to the peace demands, but with some U.S. help) In ‘98 he returned, and disavowed his disavowal, and then pledged to fight the Americans, who had helped to oust the Spanish.

Aguinaldo resurfaced in the public eye again in 1935 when the Philippines became a quasi-independent nation. He ran against Manuel Quezon in the first election, but he lost. Anyway, the point is that he changed colors, back and forth, and no one seemed to mind, or they just took it in stride. He seemed just as passionate about whatever side he was on."
by Metalgalaxy March 27, 2010
Top Definition
one of filipino ancestry. can also stand for "fine looking island people/person."
dayum! did you SEE that flip!? she was fyyyyyyne!
by el em ay oh February 06, 2004
originally a deragatory termed used for filipinos by US soldiers. FLIP = fucking little island people.
if you were a true filipino, you won't kep referring to yourself as "flip". but instead, call yourselves pinoy/pinay or spell out filipino. be proud of your culture.

by got_adobo? June 16, 2006

If you flip something you make a profit out of it.

Let's say you bought a 5-stick pack of gum for 25 cents and you sell every stick for 10 cents (giving you 50 cents) you just flipped the pack of gum.

I heard there was a show where people flip houses.
They buy some houses, fix them up then sell them for more than they paid.

So I guess you could flip anything, but when I hear someone say they flipped something I'm usually thinking about narcotics.
In the example, "pound" is probably a pound of chronic, cocaine, etc..
Should I shoot out of town and flip this pound? - Mack 10
by JGuzmannn April 17, 2007
To go crazy, to go insane.
I was so mad, I thought I was going to flip.
by Light Joker September 19, 2004
short 4 filipino/filipina person
i'm a fLiP
by aj April 27, 2004
To sell drugs
I just found a new connect. I got a half pound to flip by friday.
by Tree October 30, 2003
The act of purchasing drugs (usually a larger quantity) and reselling the same amount for more money.
He's been flipping QPs every day.
by DROC July 31, 2005
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