If you do that while you're standing somewhere besides your lie, it would usually count as a "practice throw", which adds a stroke to your score but does not change your lie.
The only time you can toss the disc without it counting is if (a) you're not at your lie, and (b) you toss the disc away from the basket, and (c) it goes less that 2 meters (like, if you're tossing the disc a short distance back to your bag).
http://www.pdga.com/rules/800-definitions


