Flipping old bore, I state (5)
I believe the answer is:
idaho
'state' is the definition.
(Idaho is an example)
'flipping old bore i' is the wordplay.
'flipping' says the letters should be written in reverse.
'old' becomes 'o' (common abbreviation eg in OE for Old English).
'bore' becomes 'had' ('have' can be a synonym of 'bear').
'o'+'had'+'i'='ohadi'
'ohadi' backwards is 'IDAHO'.
(Other definitions for idaho that I've seen before include "US state E. of Oregon" , "North-western US state" , "silver-mining state" , "agricultural land" , "State of NW US" .)