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It means you're out of your head - latino style!
"You're flippio, flippy for real" quoted by Fenster in the movie Usual Suspects
flippio by Soler February 5, 2008
Related Words

fliphead 

a person who is an idiot and shows it all too well

craig

meaning someone who lived near a crag
"Stop humping the chair! You're such a fliphead!"

flips balls

My dog flips balls when boys with hats enter the room, and then attacks them.
flips balls by Scubatroupe December 9, 2008

fliptalian 

A person of filipino and italian decent.
Dude 1: That kid over there loves pizza and lumpia.

Dude 2: He must be fliptalian.
fliptalian by yrba1 March 4, 2009

Flipping the Hippo

Essentially, flipping the hippo is a clean term that refers to sexual activities. The term is used as a verb phrase, and is often used to discretely discuss the weekend's activities without snoopers finding out your intentions.
(Friend to Friend, with others nearby) - We went out to dinner, and then that night we were flipping the hippo until she had to go back home.

FlipFlopRockBottom 

The point at which a person with a FlipFlop addiction is forced to acknowledge that she has a problem. The FlipFlop addict will hide pairs of flip flops in various places around the house or in her car or flat-out lie about which ones are new, or how many pairs she has.
Helen hasn't reached FlipFlopRockBottom yet; she insists that having 83 pairs of flip flops is not out of the ordinary.