Flying discs (including Frisbees) can be thrown in many ways. All involve spinning the disc to give it gyroscopic stability, and accelerating its mass to a certain velocity. Without spin, a disc will wobble and fall; without velocity, the disc will not go anywhere. Using these two guidelines, any number of throws are possible. Most discs are designed to create lift when thrown with the flat side up.

Full info after the jump:
http://en.wikipedia.org/wiki/Disc_throws