[Brinnie]

From the craigslist FAQ:

What are "flags?"
If you see a problem with a posting, choose a reason why the posting needs to be removed from the choices located on the upper left of the posting: miscategorized, prohibited, spam, discussion, best of. If enough people flag the post for the same reason, the post will automatically be returned to the poster with an email explaining why the post was returned. [Flagging FAQ]

What this translates into for vB:
If a post gets flagged "x" amount of times, it get's deleted and a PM sent back to the poster that says:

"Hi, Brinnie. Several people flagged your post as "miscategorized". Here is a copy of your post. Please repost it in the correct forum next time
Thanks.

The admin would set this per forum.
The admin would set how many flags it takes to remove a post/thread.
The admin would set whether of not it applies to admins, mods or certain groups.

This would be useful for dealing with people like me.
You community becomes a democrasy where the majority wins. You will never need a moderator again.

And here is an example of a craigslist post:
http://milwaukee.craigslist.org/muc/89572527.html