Is when a guy and a girl agree to come to the other person's house. They will put on Netflix to watch a movie (like every normal person does) and if they want to have sexual relations with each other they would. If the guy\girl is ugly, Netflix is a distraction while they "chill" (hangout)
Guy: what are you doing later on tonight?
Girl: idk what do you want to do?
Guy: how about we watc Netflix and chill... Get to know one another
Peter: hey Wendy wanna Netflix and chill?
Wendy: sure I'll bring the condoms
Peter: I thought we were gonna watch Netflix? ...
Wendy: Netflix and chill means we fuck, dumbass, be over in a bit