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When a man approaches someone who's asleep, whips his cock out of his pants and dangles it next to the victims face. He then gently brushes the lips or face of the victim with his finger, but upon waking the victim sees nothing but cock and believes it rubbed on him/her.
Since Jerry's dad was the first to pass out at the New Year's party, Jerry gave him the "liptrick" to the delight of the crowd.
liptrick by Eman3737 November 29, 2004
Related Words

Lavadrick 

lowkey, very slept on, will change your whole life just never given chances.
That boy is a real Lavadrick.
Lavadrick by zeanasty1200 December 20, 2016