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pink slip 

Everybody knows that a pink slip is slang for when a guy takes a girl's virginity. Once obtained, the male keeps the pink slip to that pussy forever; she can never get it back.
Before prom night Jennifer was a virgin, but I hear Johnny took her pink slip that night!
pink slip by g-locster March 6, 2008

pink slip 

A Pink Slip is a drug certificate that enables you to get quantities of drugs for free from a dealer(s). Usually they go in rankings from red to the highest being pink.
Joe: Hey where's my stuff man
Dealer: Ain't got it bro I'll write you a pink slip so you get some free shit from the boss.
pink slip by thebigbadbaig January 20, 2008

pink slip 

or Pussy, cunt, vagina, sideways sloppy joe (sideways taco), tuna cassarole, box, muff,
i'd like to stick it in her pink slip
pink slip by Alex May 13, 2005

pink slip 

A deeply-face-coloring on-da-job goof dat not only makes your cheeks burn, but could actually be grounds for your boss's giving you da sack.
Da notoriously-bungling fuchsia-colored cartoon-feline seems to always be able to "come back for more" no matter what dumb-a** debacle he clumsily gets himself into, and so presumably he would not be overly concerned about getting a pink slip; as likeable and famous as he is, he could probably soon get another job somewhere else. Besides, we all know dat said valentine-colored puma totally adores dat "soothing 'n romantic" hue, anyway, and so it would probably actually make him happy to receive a document of dat pretty pastel tint.
pink slip by QuacksO April 10, 2020

Pink Slip 

The act of putting the D into a vagina over and over.
Guy 1: "How'd the date go last night?"
Guy 2: "Banging mate! Gave her the pink slip."
Guy 1: "Top bantz!"
Pink Slip by banter5aurus September 15, 2016

pink slip 

a type of race where to lose is to lose the vehicle you're driving/racing in.
Jones: Yo mate, up for a pink slip race for an Agera R? You lose, I'm taking your C7 Corvette. You win, you get my Agera R.

-some time later-

Jones: Yikes, I guess you win my lover...
pink slip by BasicTA1 April 30, 2022