To be on the sly, the active of sly. You can do something on the sly, maybe stealing something funny and legendary, like mine and Jimbo's road bollard. You could also have 'slying it'
"We took that bollard on the sly"
"Tonight we're slying it/on the sly"
"Come on lads, here we go, on the sly on the sly"
Covert flirting between two people. Because they have to keep their true feelings for each other secret, for whatever reason (i.e. they work together, one is married, etc.).
"Those two can't seem to stand each other! They're always fighting over something!"
"Wrong, man. It's all a front they put up. They're actually macking on the sly."
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.