The phrase "I'd tap that" is slang, used to express the sex appeal of another. Often this phrase is used sarcastically, when the referenced chick is beat (ugly).
"Damn, look at those tits!" "I'd tap that!"
"Holy shit that chick is beat!" "LOL I'd tap that."
when someone uses it to joke around, or when someone likes what they see, they say i'd tap that as in that'd like to be with that person. not any sexual intercourse.
i'd like to tap that homiee .so yeah, i'd tap that.