Plain English Meaning
A turn that is not coordinated. In a slip, the airplane is banked more than it is turning, so it slides toward the low side. In a skid, the airplane is turning faster than its bank suggests, so it slides toward the high side. Pilots see this on the small ball in the turn instrument: ball to the inside means slip, ball to the outside means skid.
Full Definition
An uncoordinated turn in which the airplane's longitudinal axis is not aligned with the flight path. In a slipping turn, the rate of turn is too slow for the bank angle, and the airplane slides toward the inside (lower wing) of the turn. In a skidding turn, the rate of turn is too fast for the bank angle, and the airplane slides toward the outside (higher wing) of the turn. Both are visible on the (the ball) being displaced from .