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!"
von SpikeisGrand 5. Dezember 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."
von "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
von jerz nigga 25. März 2009
being instructed to run, leave quickly
yo! u best chip now or ya gettin a beatin
von Mack-S12 28. Oktober 2008
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
von scuttlebutt 6. März 2008
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