The act of attracting a member of the opposite sex for reasons based solely on pleasure. More precisely, "bag it" is the act of attracting and taking home, and "tap it" is to engage in sexual intercourse. Usually used by males.
Used below to express agreement on the interest in a females' hind quarters:
"Man, did you see the ass on that girl?"
"Bag it and tap it, dude!"
put a condom on and have at it. a play on words from the CSI procedure whereby anything that may contain DNA is put in a bag and labeled. In this case, the bag containing the eventual DNA (jiz) is the condom, and tagging it means to have a go at the pussy.
Inebriated guy tells the wild party gal that "he would sure like to get some of that", nodding to her crotch.
She responds: "bag it and tag it", as she first nods to his cock and then to her snatch.
Used in the field of criminal investigation and forensics, "bag it" refers to putting evidence in a sealed bag or container, and "tag it" refers to the tag or label attached describing the contents and context of their retrieval. Bag it and tag it can also refer to a body bag and tag describing the deceased within.
They would gather any more possible or trace evidence, bag it and tag it, and take measurements of the rooms.
Slang sexual term used to define using a bag or a mask to have foreplay and/or sexual intercourse with a girl who usually has a nice body, but an unattractive face.