Either a way to say ''sleepy'', having only removed the first two letters
or
a way to say ''creepy'', also removing the first two letters.
you can usually understand which it is by the context it's used in
Person A : and why he eepy?
Person B: EEPY ALERT
Person A: He so eepy!!
___________
Person C: I'm so eepy...
Person D: then go to sleep
Person C: but i don't wanna