A term used to define a bi-sexual man engaged in a threesome with a female and male partners. When finished having sex with one partner will immediately flip to the other and have sex with them also. A bi-sexual man that is as happy with a dick in him as having his dick in a pussy. Also a gay man that after being on his knees performing oral sex for his partner will go into position for anal sex. Also a gay man after achieving orgasm by having anal sex with his partner will switch positions and let his partner have that ass.
I had a friend that couldn't decide whether he wanted to be gay or straight. So I said to him, "Man you get some fine women, but then you flip around and go back to men. I guess I'm going to call you flipboy