When a girl's underwear has been displaced, by prolonged activity, drunkenly falling, or just having a overly lippy vagina, leaving one lip exposed and blowing in the wind outside the underwear.
"These panties are miserable, I've been lippin' out all day"
"I got a shot at her nethers when she was getting out of the car, she was definitely lippin' out"
by Spoon27 October 25, 2007

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