S.I.P Share definition Flag Stands for Slut in progress.Can be used in multiple different ways.When someone’s doing something slutty. Person 1: Did you see Becky go with Liam? Person 2: Yeah we know that’s a S.I.P. S.I.P by Jlackey11 June 11, 2018 0 0 Get merch Get the S.I.P mug. Buy Now — $32.95 See more merch