To tease or flirt with another person, as well as the other person reciprocates and teases/flirts with you. Used to describe your experience with a friend or colleague about the person you met or the talk you had with the person.
Can also be defined as two guys just having a good time as well as two girls having a good time.
Hey, I absolutely had a great time with this girl I met last night. We connected and we also slapped it out, it was great!
Ian: Lara why are you so special and not in a good way?
Lara: Ian just drop it like a slippery stick of butter
Ian: Ms McClain can i go to the nurse?
Ms. McClain: Why, Ian?
Ian: My scars hurting...
Ms. McClain: What?
Ian: From all these dementors.
Ms. McClain: What?
Ian: I REALLY NEED TO KILL SOME HORCRUXES
Ms. McClain: Ian just drop it like a slippery stick of butter!