The act is typically used in lieu of a genuine speeding contest in which the "ricer" does not perceive any chance of succeeding and instead uses the action as a fabricated victory. The second vehicle is typically piloted by a driver who is unaware of any automotive competition beforehand, is likely driving in high-gear at low RPM and may or may not be adjusting the vehicle's stereo and/or scratching their genitals at the time.
The actual act of acceleration is usually very brief and surprisingly unimpressive and is usually accompanied by a very loud and irritating buzzing noise from the exhaust and/or the activation of the "ricer's" 4-way hazard indicators, which are used to communicate the bitch-slapping to the second vehicle.
In most cases, the "ricer" will later engage in spontaneous and excessive masturbation while vividly recalling his actions at which time the second driver will typically be having sexual intercourse with the "ricer's" girlfriend, wife, sister, daughter, mother or any combination of the above.
Passing the lead car in a street race, after the race has clearly ended. Usually performed because the loser is upset at the outcome of the race, and is secretly crying inside.
AKA: ricer buzz-by, ricer blow-by
*Ricer revs engine* *I rev back*
"We kicked his ass... oh her comes the ricer flyby... sure enough, probably thinks he won..."