1 definition by Cohlt .45
A sly five is something you do when you and/or a friend both notice (or do) something awesome in the presence of a person that might not think it awesome. It is essentially a very discreet high five which requires no elevation of the hands and can be done with a simple pass so that no one will notice how awesome you and your friend are.
John, Steve and Rebecca(John's GF) are at the bar with some friends. One of their friends, Elaine, has been hinting at some sexual tension between her and John. Shes awfully drunk now and starts to grope on John when Rebecca isnt paying attention. Seeing the obvious possible confrontation, Steve swoops in and entices Elaine to go and smoke with him so that John and Rebecca can quickly leave. On their way out, John quickly Sly Fives Steve.
by Cohlt .45 May 21, 2010