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To have sex with.

Derives from the British term 'to Shag', which became popular within the USA due to the film 'Austin Powers'. Rag is used only in the conditional and past tense, or used as an expletive.

For the conditional, Rag would be used to infer that you would have the pleasure of being intimate with the object/person. It most frequently appears in the cliché, 'I'd rag her/him anyday!'

While on the other hand, in the Past tense, it is only used in a joking fashion. Using 'ragged' to tell the truth would only make people unable to take you seriously.

As an expletive, it is used as 'Raggy', which one shouts aloud to the unsupspecting public, to see if anyone noticing. Unofficially, it means 'I want to have sex with your right here right now.'
Conditional:

Anthony: I would so rag Mrs. Coe!

Past Tense:

Ross: What were you doing around around Connor's house yesterday, Richard?
Richard: Ragging his bedsheet! What do you think?

Expletive:

Anthony: RAGGY!
Ross: Mate, you just shouted that out the window to small French Children.
Rag by Fabien Dumort August 2, 2007
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Risk Averse Gimp. Someone who is unable to take necessary risk for pleasure/reward.
He only put a 1er on the 15-1 NAP, what a fucking RAG.
RAG by Mooju91 December 10, 2019
Related Words
Regional Aleph Godol...a.k.a. big president dude for a region.
Moses is the RAG of our region, he does a lot of work, we all know him.
RAG by not a rag January 19, 2004
Shortened term for "Ragnaros," final boss in a dungeon called "Molten Core" in the mmorpg World of Warcraft.
"Dude! My guild just downed Rag for the first time!"

"Okay guys, we're going to kill Rag next.
rag by 5ummerbreeze August 31, 2006
when you, or your chick get all moody and shit beacuse she's on her period ;

she's basically bi-polar, & when he doesn't tell you why, you get angry.. then when she does, your dumbass says some dumb shit to make it worse
ahh fuck! my chicks' on her rag

why you being such a bitch? get off your rag

are yu on your rag, 'cause you been acting all bi'polar and shit
rag by &roni; hollaaa(: April 12, 2009
To be pissed off about something. To be in a bad mood.
Man, Ric is on the rag today.
I asked Ric what was up, and he starts raggin' on me about what happened last night.
rag by Payloader January 4, 2004
Hey do you have a grey rag? I need one.
Rag by sgvserpent March 31, 2005