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1. To pull, tug, or jerk someone or something out (of something) very suddenly or forcefully. A noun or pronoun can be used between "yank" and "out." The lifeguard yanked the child out of the swimming pool. We'll have to yank out all the rebar that wasn't aligned properly and replace it before the cement sets.
2. To take something out (of something or some place) and present it very suddenly or abruptly. A noun or pronoun can be used between "yank" and "out." We had barely sat down when she yanked out her phone and started texting her friends. The FBI agent yanked his badge out when I asked who he was.
3. To force someone or some group to leave or depart (from some group, situation, area, activity, etc.), typically very suddenly or against their will. I was going to a pretty fancy prep school, but my parents yanked me out after clashing with the snooty parents. The country is yanking out its embassy after threats were made against its staff by several paramilitary groups. She was yanked out of the competition after testing positive for performance-enhancing drugs.