Situationship is slang mainly used by Gen Z to describe their non-monogamous dating. It is a romantic relationship that is also non-committed. The younger generation calls it situations when they are in between friends and lovers. 

This term is usually used when there is an undefinable attraction and chemistry between two people, and they know about it but aren’t committing to each other. Situationships are generally based on a lack of commitment as both partners are unwilling to be in a long-term relationship.

Example

The dating fiasco of Leonardo Dicaprio and Gigi Hadid is a famous example of a situationship because they saw each other as friends for a while and ended their non-committed relationship after a year.