Flat Toast = Floast. Instead of toasting your bread in a toaster, you butter the bread first and use a floaster (also known as a sandwich press) to toast the bread. The end result is a flat, golden, crispy delicious piece of floast.
Some stupid bullshit made up by two students at Stanford. They say that it's a mixture of the words floating and posting, a state where your body is still but your mind is floating. It essentially tells the world: I'm a pretentious asshole, who has nothing better to do than sit and stare at shit.
It's when you put toilet paper in a toilet bowl before defecating so that the feces float and achieve full throttle air contact so that the smell may stench the whole area. This phenomenon is commonly practised after bad hotel service.
Dude I left a floating island of reprisal at the Hotel! Dude the floating island of reprisal stenched the whole room!