diff --git a/AK/CMakeLists.txt b/AK/CMakeLists.txt
index 778593085eb..cd2bcd0e026 100644
--- a/AK/CMakeLists.txt
+++ b/AK/CMakeLists.txt
@@ -5,6 +5,7 @@ set(AK_SOURCES
     DeprecatedFlyString.cpp
     DeprecatedString.cpp
     FloatingPointStringConversions.cpp
+    FlyString.cpp
     Format.cpp
     FuzzyMatch.cpp
     GenericLexer.cpp
diff --git a/AK/FlyString.cpp b/AK/FlyString.cpp
new file mode 100644
index 00000000000..a475ea39999
--- /dev/null
+++ b/AK/FlyString.cpp
@@ -0,0 +1,169 @@
+/*
+ * Copyright (c) 2023, Tim Flynn <trflynn89@serenityos.org>
+ *
+ * SPDX-License-Identifier: BSD-2-Clause
+ */
+
+#include <AK/FlyString.h>
+#include <AK/HashMap.h>
+#include <AK/Singleton.h>
+#include <AK/StringView.h>
+#include <AK/Utf8View.h>
+
+namespace AK {
+
+static auto& all_fly_strings()
+{
+    static Singleton<HashMap<StringView, uintptr_t>> table;
+    return *table;
+}
+
+FlyString::FlyString()
+    : m_data(String {}.to_fly_string_data({}))
+{
+}
+
+FlyString::~FlyString()
+{
+    String::unref_fly_string_data({}, m_data);
+}
+
+ErrorOr<FlyString> FlyString::from_utf8(StringView string)
+{
+    return FlyString { TRY(String::from_utf8(string)) };
+}
+
+FlyString::FlyString(String const& string)
+{
+    if (string.is_short_string()) {
+        m_data = string.to_fly_string_data({});
+        return;
+    }
+
+    auto it = all_fly_strings().find(string.bytes_as_string_view());
+    if (it == all_fly_strings().end()) {
+        m_data = string.to_fly_string_data({});
+
+        all_fly_strings().set(string.bytes_as_string_view(), m_data);
+        string.did_create_fly_string({});
+    } else {
+        m_data = it->value;
+    }
+
+    String::ref_fly_string_data({}, m_data);
+}
+
+FlyString::FlyString(FlyString const& other)
+    : m_data(other.m_data)
+{
+    String::ref_fly_string_data({}, m_data);
+}
+
+FlyString& FlyString::operator=(FlyString const& other)
+{
+    if (this != &other) {
+        m_data = other.m_data;
+        String::ref_fly_string_data({}, m_data);
+    }
+
+    return *this;
+}
+
+FlyString::FlyString(FlyString&& other)
+    : m_data(other.m_data)
+{
+    other.m_data = String {}.to_fly_string_data({});
+}
+
+FlyString& FlyString::operator=(FlyString&& other)
+{
+    m_data = other.m_data;
+    other.m_data = String {}.to_fly_string_data({});
+
+    return *this;
+}
+
+bool FlyString::is_empty() const
+{
+    return bytes_as_string_view().is_empty();
+}
+
+unsigned FlyString::hash() const
+{
+    return bytes_as_string_view().hash();
+}
+
+FlyString::operator String() const
+{
+    return to_string();
+}
+
+String FlyString::to_string() const
+{
+    return String::fly_string_data_to_string({}, m_data);
+}
+
+Utf8View FlyString::code_points() const
+{
+    return Utf8View { bytes_as_string_view() };
+}
+
+ReadonlyBytes FlyString::bytes() const
+{
+    return bytes_as_string_view().bytes();
+}
+
+StringView FlyString::bytes_as_string_view() const
+{
+    return String::fly_string_data_to_string_view({}, m_data);
+}
+
+bool FlyString::operator==(FlyString const& other) const
+{
+    return m_data == other.m_data;
+}
+
+bool FlyString::operator==(String const& other) const
+{
+    if (m_data == other.to_fly_string_data({}))
+        return true;
+
+    return bytes_as_string_view() == other.bytes_as_string_view();
+}
+
+bool FlyString::operator==(StringView string) const
+{
+    return bytes_as_string_view() == string;
+}
+
+bool FlyString::operator==(char const* string) const
+{
+    return bytes_as_string_view() == string;
+}
+
+void FlyString::did_destroy_fly_string_data(Badge<Detail::StringData>, StringView string_data)
+{
+    all_fly_strings().remove(string_data);
+}
+
+uintptr_t FlyString::data(Badge<String>) const
+{
+    return m_data;
+}
+
+size_t FlyString::number_of_fly_strings()
+{
+    return all_fly_strings().size();
+}
+
+unsigned Traits<FlyString>::hash(FlyString const& fly_string)
+{
+    return fly_string.bytes_as_string_view().hash();
+}
+
+ErrorOr<void> Formatter<FlyString>::format(FormatBuilder& builder, FlyString const& fly_string)
+{
+    return Formatter<StringView>::format(builder, fly_string.bytes_as_string_view());
+}
+
+}
diff --git a/AK/FlyString.h b/AK/FlyString.h
new file mode 100644
index 00000000000..1052c64ba42
--- /dev/null
+++ b/AK/FlyString.h
@@ -0,0 +1,73 @@
+/*
+ * Copyright (c) 2023, Tim Flynn <trflynn89@serenityos.org>
+ *
+ * SPDX-License-Identifier: BSD-2-Clause
+ */
+
+#pragma once
+
+#include <AK/Error.h>
+#include <AK/Format.h>
+#include <AK/Platform.h>
+#include <AK/String.h>
+#include <AK/Traits.h>
+#include <AK/Types.h>
+
+namespace AK {
+
+class FlyString {
+public:
+    FlyString();
+    ~FlyString();
+
+    static ErrorOr<FlyString> from_utf8(StringView);
+    explicit FlyString(String const&);
+
+    FlyString(FlyString const&);
+    FlyString& operator=(FlyString const&);
+
+    FlyString(FlyString&&);
+    FlyString& operator=(FlyString&&);
+
+    [[nodiscard]] bool is_empty() const;
+    [[nodiscard]] unsigned hash() const;
+
+    explicit operator String() const;
+    String to_string() const;
+
+    [[nodiscard]] Utf8View code_points() const;
+    [[nodiscard]] ReadonlyBytes bytes() const;
+    [[nodiscard]] StringView bytes_as_string_view() const;
+
+    [[nodiscard]] bool operator==(FlyString const& other) const;
+    [[nodiscard]] bool operator==(String const&) const;
+    [[nodiscard]] bool operator==(StringView) const;
+    [[nodiscard]] bool operator==(char const*) const;
+
+    static void did_destroy_fly_string_data(Badge<Detail::StringData>, StringView);
+    [[nodiscard]] uintptr_t data(Badge<String>) const;
+
+    // This is primarily interesting to unit tests.
+    [[nodiscard]] static size_t number_of_fly_strings();
+
+private:
+    // This will hold either the pointer to the Detail::StringData it represents or the raw bytes of
+    // an inlined short string.
+    uintptr_t m_data { 0 };
+};
+
+template<>
+struct Traits<FlyString> : public GenericTraits<FlyString> {
+    static unsigned hash(FlyString const&);
+};
+
+template<>
+struct Formatter<FlyString> : Formatter<StringView> {
+    ErrorOr<void> format(FormatBuilder&, FlyString const&);
+};
+
+}
+
+#if USING_AK_GLOBALLY
+using AK::FlyString;
+#endif
diff --git a/AK/Forward.h b/AK/Forward.h
index 6805f659b12..e6db52c42db 100644
--- a/AK/Forward.h
+++ b/AK/Forward.h
@@ -21,6 +21,7 @@ class Bitmap;
 using ByteBuffer = Detail::ByteBuffer<32>;
 class CircularBuffer;
 class Error;
+class FlyString;
 class GenericLexer;
 class IPv4Address;
 class JsonArray;
diff --git a/AK/String.cpp b/AK/String.cpp
index 2243968b3da..828adcdce15 100644
--- a/AK/String.cpp
+++ b/AK/String.cpp
@@ -5,6 +5,7 @@
  */
 
 #include <AK/Checked.h>
+#include <AK/FlyString.h>
 #include <AK/Format.h>
 #include <AK/String.h>
 #include <AK/StringBuilder.h>
@@ -59,6 +60,9 @@ public:
         return m_hash;
     }
 
+    bool is_fly_string() const { return m_is_fly_string; }
+    void set_fly_string(bool is_fly_string) { m_is_fly_string = is_fly_string; }
+
 private:
     explicit StringData(size_t byte_count);
     StringData(StringData const& superstring, size_t start, size_t byte_count);
@@ -69,6 +73,7 @@ private:
     mutable unsigned m_hash { 0 };
     mutable bool m_has_hash { false };
     bool m_substring { false };
+    bool m_is_fly_string { false };
 
     u8 m_bytes_or_substring_data[0];
 };
@@ -95,6 +100,8 @@ StringData::StringData(StringData const& superstring, size_t start, size_t byte_
 
 StringData::~StringData()
 {
+    if (m_is_fly_string)
+        FlyString::did_destroy_fly_string_data({}, bytes_as_string_view());
     if (m_substring)
         substring_data().superstring->unref();
 }
@@ -255,6 +262,13 @@ bool String::operator==(String const& other) const
     return bytes_as_string_view() == other.bytes_as_string_view();
 }
 
+bool String::operator==(FlyString const& other) const
+{
+    if (reinterpret_cast<uintptr_t>(m_data) == other.data({}))
+        return true;
+    return bytes_as_string_view() == other.bytes_as_string_view();
+}
+
 bool String::operator==(StringView other) const
 {
     return bytes_as_string_view() == other;
@@ -307,7 +321,7 @@ ErrorOr<String> String::replace(StringView needle, StringView replacement, Repla
 
 bool String::is_short_string() const
 {
-    return reinterpret_cast<uintptr_t>(m_data) & SHORT_STRING_FLAG;
+    return has_short_string_bit(reinterpret_cast<uintptr_t>(m_data));
 }
 
 ReadonlyBytes String::ShortString::bytes() const
@@ -325,6 +339,55 @@ unsigned Traits<String>::hash(String const& string)
     return string.hash();
 }
 
+String String::fly_string_data_to_string(Badge<FlyString>, uintptr_t const& data)
+{
+    if (has_short_string_bit(data))
+        return String { *reinterpret_cast<ShortString const*>(&data) };
+
+    auto const* string_data = reinterpret_cast<Detail::StringData const*>(data);
+    return String { NonnullRefPtr<Detail::StringData>(*string_data) };
+}
+
+StringView String::fly_string_data_to_string_view(Badge<FlyString>, uintptr_t const& data)
+{
+    if (has_short_string_bit(data)) {
+        auto const* short_string = reinterpret_cast<ShortString const*>(&data);
+        return short_string->bytes();
+    }
+
+    auto const* string_data = reinterpret_cast<Detail::StringData const*>(data);
+    return string_data->bytes_as_string_view();
+}
+
+uintptr_t String::to_fly_string_data(Badge<FlyString>) const
+{
+    return reinterpret_cast<uintptr_t>(m_data);
+}
+
+void String::ref_fly_string_data(Badge<FlyString>, uintptr_t data)
+{
+    if (has_short_string_bit(data))
+        return;
+
+    auto const* string_data = reinterpret_cast<Detail::StringData const*>(data);
+    string_data->ref();
+}
+
+void String::unref_fly_string_data(Badge<FlyString>, uintptr_t data)
+{
+    if (has_short_string_bit(data))
+        return;
+
+    auto const* string_data = reinterpret_cast<Detail::StringData const*>(data);
+    string_data->unref();
+}
+
+void String::did_create_fly_string(Badge<FlyString>) const
+{
+    VERIFY(!is_short_string());
+    m_data->set_fly_string(true);
+}
+
 DeprecatedString String::to_deprecated_string() const
 {
     return DeprecatedString(bytes_as_string_view());
diff --git a/AK/String.h b/AK/String.h
index 7a8eecce15c..b0d4f3e2a12 100644
--- a/AK/String.h
+++ b/AK/String.h
@@ -73,6 +73,9 @@ public:
     [[nodiscard]] bool operator==(String const&) const;
     [[nodiscard]] bool operator!=(String const& other) const { return !(*this == other); }
 
+    [[nodiscard]] bool operator==(FlyString const&) const;
+    [[nodiscard]] bool operator!=(FlyString const& other) const { return !(*this == other); }
+
     [[nodiscard]] bool operator==(StringView) const;
     [[nodiscard]] bool operator!=(StringView other) const { return !(*this == other); }
 
@@ -102,6 +105,14 @@ public:
     // NOTE: This is primarily interesting to unit tests.
     [[nodiscard]] bool is_short_string() const;
 
+    [[nodiscard]] static String fly_string_data_to_string(Badge<FlyString>, uintptr_t const&);
+    [[nodiscard]] static StringView fly_string_data_to_string_view(Badge<FlyString>, uintptr_t const&);
+    [[nodiscard]] uintptr_t to_fly_string_data(Badge<FlyString>) const;
+
+    static void ref_fly_string_data(Badge<FlyString>, uintptr_t);
+    static void unref_fly_string_data(Badge<FlyString>, uintptr_t);
+    void did_create_fly_string(Badge<FlyString>) const;
+
     // FIXME: Remove these once all code has been ported to String
     [[nodiscard]] DeprecatedString to_deprecated_string() const;
     static ErrorOr<String> from_deprecated_string(DeprecatedString const&);
@@ -110,6 +121,11 @@ private:
     // NOTE: If the least significant bit of the pointer is set, this is a short string.
     static constexpr uintptr_t SHORT_STRING_FLAG = 1;
 
+    static constexpr bool has_short_string_bit(uintptr_t data)
+    {
+        return (data & SHORT_STRING_FLAG) != 0;
+    }
+
     struct ShortString {
         ReadonlyBytes bytes() const;
         size_t byte_count() const;
diff --git a/Tests/AK/CMakeLists.txt b/Tests/AK/CMakeLists.txt
index 957304cb778..ef7b72b22c9 100644
--- a/Tests/AK/CMakeLists.txt
+++ b/Tests/AK/CMakeLists.txt
@@ -30,6 +30,7 @@ set(AK_TEST_SOURCES
     TestFixedPoint.cpp
     TestFloatingPoint.cpp
     TestFloatingPointParsing.cpp
+    TestFlyString.cpp
     TestFormat.cpp
     TestGenericLexer.cpp
     TestHashFunctions.cpp
diff --git a/Tests/AK/TestFlyString.cpp b/Tests/AK/TestFlyString.cpp
new file mode 100644
index 00000000000..f2eb60b232d
--- /dev/null
+++ b/Tests/AK/TestFlyString.cpp
@@ -0,0 +1,120 @@
+/*
+ * Copyright (c) 2023, Tim Flynn <trflynn89@serenityos.org>
+ *
+ * SPDX-License-Identifier: BSD-2-Clause
+ */
+
+#include <LibTest/TestCase.h>
+
+#include <AK/FlyString.h>
+#include <AK/String.h>
+#include <AK/Try.h>
+
+TEST_CASE(empty_string)
+{
+    FlyString fly {};
+    EXPECT(fly.is_empty());
+    EXPECT_EQ(fly, ""sv);
+
+    // Short strings do not get stored in the fly string table.
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 0u);
+}
+
+TEST_CASE(short_string)
+{
+    FlyString fly1 { MUST(String::from_utf8("foo"sv)) };
+    EXPECT_EQ(fly1, "foo"sv);
+
+    FlyString fly2 { MUST(String::from_utf8("foo"sv)) };
+    EXPECT_EQ(fly2, "foo"sv);
+
+    FlyString fly3 { MUST(String::from_utf8("bar"sv)) };
+    EXPECT_EQ(fly3, "bar"sv);
+
+    EXPECT_EQ(fly1, fly2);
+    EXPECT_NE(fly1, fly3);
+    EXPECT_NE(fly2, fly3);
+
+    EXPECT(fly1.to_string().is_short_string());
+    EXPECT(fly2.to_string().is_short_string());
+    EXPECT(fly3.to_string().is_short_string());
+
+    // Short strings do not get stored in the fly string table.
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 0u);
+}
+
+TEST_CASE(long_string)
+{
+    FlyString fly1 { MUST(String::from_utf8("thisisdefinitelymorethan7bytes"sv)) };
+    EXPECT_EQ(fly1, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    FlyString fly2 { MUST(String::from_utf8("thisisdefinitelymorethan7bytes"sv)) };
+    EXPECT_EQ(fly2, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    FlyString fly3 { MUST(String::from_utf8("thisisalsoforsuremorethan7bytes"sv)) };
+    EXPECT_EQ(fly3, "thisisalsoforsuremorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 2u);
+
+    EXPECT_EQ(fly1, fly2);
+    EXPECT_NE(fly1, fly3);
+    EXPECT_NE(fly2, fly3);
+
+    EXPECT(!fly1.to_string().is_short_string());
+    EXPECT(!fly2.to_string().is_short_string());
+    EXPECT(!fly3.to_string().is_short_string());
+}
+
+TEST_CASE(from_string_view)
+{
+    auto fly1 = MUST(FlyString::from_utf8("thisisdefinitelymorethan7bytes"sv));
+    EXPECT_EQ(fly1, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    auto fly2 = MUST(FlyString::from_utf8("thisisdefinitelymorethan7bytes"sv));
+    EXPECT_EQ(fly2, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    auto fly3 = MUST(FlyString::from_utf8("foo"sv));
+    EXPECT_EQ(fly3, "foo"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    EXPECT_EQ(fly1, fly2);
+    EXPECT_NE(fly1, fly3);
+    EXPECT_NE(fly2, fly3);
+}
+
+TEST_CASE(fly_string_keep_string_data_alive)
+{
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 0u);
+    {
+        FlyString fly {};
+        {
+            auto string = MUST(String::from_utf8("thisisdefinitelymorethan7bytes"sv));
+            fly = FlyString { string };
+            EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+        }
+
+        EXPECT_EQ(fly, "thisisdefinitelymorethan7bytes"sv);
+        EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+    }
+
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 0u);
+}
+
+TEST_CASE(moved_fly_string_becomes_empty)
+{
+    FlyString fly1 {};
+    EXPECT(fly1.is_empty());
+
+    FlyString fly2 { MUST(String::from_utf8("thisisdefinitelymorethan7bytes"sv)) };
+    EXPECT_EQ(fly2, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+
+    fly1 = move(fly2);
+
+    EXPECT(fly2.is_empty());
+    EXPECT_EQ(fly1, "thisisdefinitelymorethan7bytes"sv);
+    EXPECT_EQ(FlyString::number_of_fly_strings(), 1u);
+}