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."
A person you hate intensely not because they deserve such hatred but because they serve as a focus for your general hatred. A healthy way to dispense with excess animosity.
Jake's not really that big an asshole. He just serves as my hate sink.