Literal expression means to tear someone a new butt-hole, figuratively means to verbally or physical abuse or criticize someone thoroughly so that they feel destroyed.
I made a joke about her butt looking big, and she ripped me a new one.
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.