Flip Flop [standalone electronics]

Here's what I just built, it's called a flip-flop and it lets you select which LED is on by pressing the button. The schematic is like this:

here it is diagrammed in falstad (with two resistors missing by accident),

The circuit itself has to store a bit of memory (for which LED is on) somewhere, and is it the transistors that store this because a transistor is either saturated (when current to the base allows it to conduct from collector to emitter) or not.

The mechanism is that the circuit has two stable states (well if you run the circuit in a perfect simulation it has a third semi-stable state which you can't get in real life, a bit like balancing a coin on its side):

These states are stable because the large current loop flows much easier through 100 ohms + a transistor than 100 ohms + 1k ohms to try to saturate the other transistor.

In state a, when you press the switch s1 it shorts out the current that was trying to saturate the transistor, so that transistor can no longer be active and the large current is redirected through the 1k resistor to saturate the other transistor putting it into state b.