Mainly used refering as joining the fandom of a k-pop boyband, SEVENTEEN (CARATs). Seventeen has made and used this phrase since debut in their song "Shining Diamond" and their fans use this phrase all the time since it is special to CARATs. Seventeen refers their fans as "diamonds", hence slipping into the diamond life means joining the fandom (carats) / being a fan of Seventeen.
"Come on let's slip into the diamond life!" "Wow Seventeen's songs is so good I might slip into the diamond life."
Sliding/slipping the twig/cig is the act of inserting an e-cig, specifically a Juul, into one’s oral cavity. Instead of “hitting” or “rippin” a Juul, the phrase is “sliding/slipping a cig/twig”.
To slide a cig is one thing, but to slip a twig is another.
To slip/slide a cig/twig is the insertion of a Juul into one’s mouth.
To have sex. To "slip" implies an insertion of a body part into a cavity of another person's body. A "pep" is slang for pepperoni, which is itself an allusion to a penis due to its phallic shape.
Nick: "bruh, how did your date with Jess go?"
Josh: "it was fun man, i can see us gettin down to slip a pep in the future"
Brad: "you old dog, that's good, maybe you two can join Chad and I on a double date"
Josh: "fuck yea fuck yea bruh!"