A term of great excitement or happiness. If something good goes your way, it is very chip. If something negative happens it lacks chip.
Robb: "Dude I so pwned that nub!"
Brian: "OMG that is so chip!"

Brian: "Dude I just won the lottery!"
Robb: "CHIP!"

Brian: "yeah, Yeah, YEAH!...."
Robb: "uh, chip!?"
Brian: "Hell ya boyeee!"
af SpikeisGrand 5. december 2007
If something is chips, it's okay, if something isn't chips, it's not okay. That's that.
Timmy: "OWW THAT CHICK JUST PINCHED MY BALLS!"
Me: "That's just not chips, mate."
af "P Nizzle" 16. februar 2010
A quick hit, usually to the face or chin. To punch or jab someone.
Yo I swear da next time I see dat nigga imma chip him
af jerz nigga 25. marts 2009
the dried feces stuck to the tip of the penis after unprotected anal sex
when jerry finally pulled out, he had chip on his tip
af scuttlebutt 6. marts 2008
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