To me, floppy strings would hold true to the literal meaning.. flop.
I like tight strings on my basses, so for me if I bought a pack of strings and a string was floppy.. it would be loose and rattle a bit. Basically IMO if you can't play 8th notes on the bass without the strings staying tight then it is floppy.
There are several factors effecting this though, string length, bass scale, string gauge etc..