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When you're doing a wheelie on a bicycle or motorbike and the back wheel slips out from underneath you. Also less commonly known as a loop out
The back brake is the integral part of the long-wheelie, so make sure your brakes are powerful enough to bring you to a skidding stop when used at high speeds. Anything less and you’re liable to “loop it,” which means falling backwards and having the back wheel shoot out then your back slaps onto the pavement or road. While doing the wheelie you should have 1-2 fingers on the brake lever.
loop it by Wgfyb🌊 February 5, 2017
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Verloop-ity Loop 

A soul patch that is grown in a long downward manner
Dude! your Verloop-ity loop makes you look awesome

Loopitis 

A condition which arises while producing music and not progressing beyond a few looped bars.

The music producers version of 'writers block'.
"You finished that tune your working on?"

"No, I got loopitis again!"
Loopitis by Senz (UK) April 15, 2009
The loopity is going to make me vomit.
Loopity by THATSFAKENEWS November 21, 2020