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The same gesture as the famous High five but a more friendly term that can be exclaimed without making one look/sound like a high-fiving douche bag.
"So these frat boys in their Lexus' tried racing me in my VW, and I totally let them blow past just to watch the cops pull them over... Up Five!"

in lieu of an after-sex high five: "YEAH! I just banged the shit out of you! Up Five!"
by Dan Ray May 23, 2008
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