Meaning

• A maneuver which rotates an object end over end.

  "The diver did a couple of flips before landing in the pool."

• A complete change of direction, decision, movement etc.

• A slingshot.

• A hairstyle popular among boys in the 1960s–70s and 2000s–10s, in which the hair goes halfway down the ears, at which point it sticks out

  "Justin Bieber and Zac Efron are among the celebrities who wore a flip."

• The purchase of an asset (usually a house) which is then improved and sold quickly for profit.

Meaning

• To throw so as to turn over.

  "You need to flip the pancake onto the other side."

• To put into a quick revolving motion through a snap of the thumb and index finger.

  "If you can't decide which option to go for, flip a coin."

• To win a state (or county) won by another party in the preceding elections

  "Wisconsin had been Democratic for decades, but the Republicans flipped it in 2016."

• To turn state's evidence; to agree to testify against one's co-conspirators in exchange for concessions from prosecutors.

  "The mafioso flipped on his superiors to get a lighter sentence."

• To induce someone to turn state's evidence; to get someone to agree to testify against their co-conspirators in exchange for concessions.

  "The district attorney was able to strengthen his case against the bank robber by flipping the getaway driver."

• To go berserk or crazy.

  "I'd flip if anyone broke my phone."

• To buy an asset (usually a house), improve it and sell it quickly for profit.

• To invert a bit (binary digit), changing it from 0 to 1 or from 1 to 0.