"It" is referring to showing your male genitalia to a certain lady (or guy if that's what your into).

This is the common reply you give to your friend when he continues to complain whether a certain girl is into him or not.

It's the ultimate test. If the girl doesn't take bait or if she's about to charge you for harassment, proceed to walk out the door and move on.
Pete: Hey Billy, Sara gave me a wink yesterday, but sometimes she doesn't seem interested in me.
Billy: Bro, when in doubt, whip it out!
by Notorious NATE October 12, 2010
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When a male unzips his fly and 'whips out' his penis, thus demonstrating how big he is. This can also refer to any situation where a male takes his dick out.

This expression refers to the legendary press conference where, when asked why the U.S. continued to fight the Vietnam war, President Lyndon Johnson "unzipped his fly, drew out his substantial organ, and declared, 'this is why!'"

For the metaphorical meaning, see dick waggling contest
Spencer: Dude, what do you do when people say that your dick isn't that big?
John: I just whip it out like LBJ, fool.
by Benny Singles November 13, 2007
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Common slang umong military enlisted to salute an approaching person in uniform when uncertain of their rank. Better to be safe than sorry. More common with the NAVY as Chief Petty Officers have gold anchors on their collars and are often mistaken for gold oak leafs (signifying a Lieutenant Commander or Major).
Bill- "Don't look now, but here comes an officer"
Larry-"No, it looks like a Chief Petty Officer from here"
Bill-"When in doubt, whip it out. Better to be on the safe side then to ignore him if he was an officer".
Larry-"You're right"

*Both saluting-"Good morning sir".
by awj_woody May 1, 2007
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A euphemism of 'pulling out' whereby a penis is pulled out of a vagina prior to ejaculation as a form of ineffective contraception. It is based on the image of someone cooking sausages, to discover that there is no cutlery available to remove them and thus one's fingers must be used to ensure that the sausages are not burnt.

A phrase commonly used by youngsters in the highlands of Scotland.
Archie - William: I just don't want to get her pregnant again but condoms are shit mun.

William - Archie: Don't worry boi, just whip it out like a hot sausage.

A few weeks later...

Archie - William Fuck man, we're having a baby.
by Regan Pizza December 28, 2016
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When a masculine man pulls out his phallus for recreational activity.
That bitch is so hot! I just, I just have to whip it out like it needs air.
by LRguy October 12, 2007
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