I'm not sure of the origin of this slang term, but it means to create something quickly. As in, "That's as easy as whipping it out," which itself is a reference to a line used in the Mel Brooks movie BLAZING SADDLES.

I appreciate your immediate response. No wonder you are so successful.

thats cool n all, but we dont want Scott to 'whip out' anything now do we? dont get any ideas :) we want the good old shit. and in response to amarkord, u question Siglers success and call yourself a junky?

The quiet guy in the corner, figuring out how to destroy all of you.