Two really close good friends that hang out as if they were dating. People around call the two a couple because of they see the two flirt all the time. Yet, both individuals (hopefully both) know that they will never become anything more than merely best friends.
Jane looks at John's myspace and decides he's hot. or, hawt l0lz so hardcore!
Jane presses the friend request button, asking John to become her friend.
John then see's the friend request when he logs on. He has the ability to choose whether he want's Jane to be his friend or not. He clicks Decline because Jane isn't scene enough!
What you attain after you fail to impress a woman you're attracted to. Usually initiated by the woman saying, "You're such a good friend". Usually associated with long days of suffering and watching your love interest hop from one bad relationship to another. Verb tense is "Friend-ed".
"I spent all that money on a date, just to find out she put me in the Friend Zone(said with eerie echo)."