Well known as the party hostel of Amsterdam, The Flying Pig is the place to go if you’re young and in Amsterdam for the weed! On entry, you’ll be greeted by a cloud of smoke.
I went here on my own, and I’d advise others to stay here with friends. It would be much more fun that way. Also, the lockers they provide need a padlock which can be purchased at the front desk: don’t bother buying one of these, if you’re serious about security; I cracked one in under 7 minutes. Bring your own padlock. The Flying Pig is on a street called Nieuwenddijk (if I remember correctly), and here you’ll find a lot of useful places. There is a shop with internet access about a minute from the hostel, though the hostel does provide free internet access(when I stayed, the computers were down). Also, nearby you’ll find a few Coffeeshops(Blues Brothers, La Canna), touristy shops selling tshirts, and junk. Fast food place are here too, and further down the street you’ll find a couple of sex shops.
Staff are very friendly and interesting at The Flying Pig. Helpful too.

Summary: I’d recommend crashing at the Pig if you’re travelling with friends. Also, the parties there go on ‘til midnight, so if you value your sleep, you might want to consider somewhere else. Rooms are cleaned daily.