Pink Slips 

Car registration of ownership

They were drag racing for pink slips.

Pink Slips by FQP June 20, 2012

racing for pink slips 

The ultimate bet in terms of personal confidence in an illegal Street race or the like. Two racers put their cars on the line by offering their registration slips as winnings. The winner of the resulting race wins the opponents car for good. This is exhibited in some of the Fast and Furious movies.

Friend 1 "hey man what's up?"

Friend 2 "I just won me a new car last night, racing for pink slips."

Friend 1 "Wow, you're brave, putting your car up like that.

Friend 1" well I wanted that car man.

racing for pink slips by ThatSmartKid June 22, 2014

Race for Pink Slips 

When you and your girlfriend challenge another couple to "Race for Pink Slips" - It is like a foursome, but instead you all have sex in one room, only with your partner: First guy to finish, wins, and he gets to take the other guys girlfriend as a reward.

Similar to racing for pinks in relation to cars

Yo bro, you wanna race for pink slips?

You're on

Race for Pink Slips by DJTeezz January 8, 2011

Pink Slip 

When they first started manufacturing cars it was a paper that said the car was entitled to you.Today they make them blue.Also its a type of race in the streetrace world which means you race for the car.

In 2F2F They raced for Pink Slips

Pink Slip by Rocafella May 23, 2004

Soviet Pink Slip 

Firing a useless bureaucrat by way of execution

The treasurer didn't show up at the meeting, so he got a soviet pink slip.

Soviet Pink Slip by ncsmith2012 October 7, 2009

pink slip 

refers to the employee's copy of a notice terminating employment, formerly colored pink.

Three employees were given a pink slip.

pink slip by Arigrion April 28, 2011

pink slip racing 

The ultimate test to see if you are a true racer. Each opponents put their cars on the line in a winner takes all match. If you win you get a free car as well as all the upgrades installed but if you lose, you lose your car. Very risky but the reward is a free car

Racer 1: i do pink slip racing only. are you up for it
Racer 2: your on
Racer 1: thanks for the free custom ford gt

pink slip racing by Thetruebadass July 29, 2014