The act of masturbating before making a tough/thoughtful decision.
A portmanteau of "fap" (slang term for masturbation) and the phrase "sleep on it" (think about something in the night and morning).
Mike: Should I ask Jennie out? She's really hot.
Jim: Fap-on-it man.
*an hour later*
Mike: Nah, I like blondes.
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